Organic Ethos Goes Out The Window When Credit Crunch Bites
Sales of organic food are falling as the credit crunch hits consumers pockets, according to Mintel.
The UK organic food and drink market is currently worth £1.6 billion, they say. But, as a result of the current economic climate, almost half - 48per cent - of all organic shoppers say that they will reduce or even give up buying organic food in the next year.
Mintel's research suggests that locally sourced and fair trade products are more important to consumers than orgainc status. In fact, locally sourced is the number one ethical concern when it comes to grocery shopping. The market for locally sourced produce is worth three times that of organic, at £4.8 billion.
The UK organic food and drink market is currently worth £1.6 billion, they say. But, as a result of the current economic climate, almost half - 48per cent - of all organic shoppers say that they will reduce or even give up buying organic food in the next year.
Mintel's research suggests that locally sourced and fair trade products are more important to consumers than orgainc status. In fact, locally sourced is the number one ethical concern when it comes to grocery shopping. The market for locally sourced produce is worth three times that of organic, at £4.8 billion.