Spam sales up nearly 40 per cent at Waitrose as price hikes bite

BRITAIN’S DISCOUNT retailers are set for a winter windfall – with even Waitrose shoppers turning to spam and fish heads as the cost of living crisis bites.

The sales of both have risen more than a third at the high-end supermarket over the past year, the firm confirmed overnight.

Analysts reckon budget grocers like Aldi and Lidl will reap the rewards of customers’ focus on thrifty purchases.

A Barclays survey of retailers suggested Brits have already started their discount Christmas shopping, with festive sales already up by a higher amount in value-driven stores than mid-range or high-value outlets.

Discount flagship Poundland is set to open 25 further stores in the UK after an uptick in sales over the past few months.

The shift to budget retailers comes as a combination of inflation – which hit 10.1 per cent on the year yesterday – and sluggish wage growth put pressure on Brits’ pockets.

Barclays Corporate Banking’s Karen Johnson said “this year, as rising costs place a squeeze on consumer spending as well as business profitability, it looks as though retailers operating at a lower price point will benefit most.”

Waitrose have attempted to win back shoppers from discounters by re-introducing free hot drinks for loyalty card members.

Susannah Streeter, an analyst at Hargreaves Lansdown, told CityA.M. that discounters were set to “clean up” this Christmas, after Aldi and Lidl have already garnered reputations as “festive favourites” over recent years.

The high street was having to contend with the prospect of a return to “pandemic habits,” with consumers swapping pricey parties and restaurant trips for nights-in with a cheaper price tag, Streeter added.

Almost three-quarters of customers surveyed by Waitrose said they were more mindful about their spending.