Wednesday 16 April 2014

Snacks 'to fuel consumer spending'

Economists predict that low cost treats will help fuel consumer spending

Sales of chocolate and snack foods will feed growth in consumer spending in the coming years, a new report has predicted.

The Economist Intelligence Unit and Mintel said people had traded down to own-brand goods, but they detected signs of "recession fatigue".

The beauty product market remained strong, the sale of good quality clothes should increase, and the tobacco market will be robust, the two groups estimated.

But sales of alcohol will be "relatively flat" amid a fall in the number of drinkers, said the report.

Peter Ayton of Mintel said product innovation and low cost treats would help fuel consumer spending, adding: "Chocolate confectionery fits the bill exactly."

Press Association

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