Although talks of Article 50 have somewhat strengthened the Sterling, we are all aware that everything that has come from the ‘Out’ vote to Brexit talks have left the value of our sovereign currency very shaky in the currency market. This isn’t only an issue for us as the consumer, it’s an issue for any consumables imported to the UK and exports of UK consumables out of the country. With GBP not having the strength it once had, costs for places like supermarkets to purchase international products will increase, ergo costs on our shelves will do too. Not only this, but larger companies, and in this particular case Weetabix, are seeing increased costs to export their product. Again because of this, the consumer will be footing the bill of these extra costs.
I once observed a blind test focus group (and there are several more that have taken place, search them!) and despite what you and I would argue, there wasn’t a correlation to show that big brand wheat biscuit cereals are of a higher quality, or have a better taste. This was versus the Aldi and Lidl equivalent of the brand, along with Tesco, Asda and Sainsbury’s own brand. Once the familiarity of the brand and the packaging is removed, in general participants could not tell the difference between the cereals. What does this mean to us? Cheap Weetabix, that’s what. Not only the less expensive brand of wheat biscuits rival the quality of Weetabix, we will not see the same price increase to own brand. And even for arguments sake we did, the price will still be lower than what Weetabix is currently charging. It’s a no brainer for breakfast eaters nationwide in my opinion.
Now this is not to say this is the same for other brands of consumables. In a lot of products you will see an increase of quality with price increase. For the others I always go for those on offer. With most of the larger brands the difference in quality can be so subtle I keep myself loyal to no brand. With it looking like we are going to see further costs to our everyday living, it’s worth keeping on to every saving you can. Much of the nation already knows this though, as the rise of Aldi and Lidl have given competition to the Big Four, and people have already become wiser to the associations we create with brands. The past few years were excellent times to be a student, which as we all know as one of the ultimate tests of reduced living costs! I can find you students that can make £5 last them for a week’s worth of food, then go out and spend £40 on a Wednesday afternoon in the pub.
As good as they have been for the price conscious alike, both Lidl and Aldi are German supermarkets. Meaning they will also be affected by the Brexit procedure. I predict we are currently at the peak of discount supermarket shopping and that as financially testing as modern life is, we will look back at these days, laugh and remember ‘how good we had it’.
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