Credit crunch boosts discounters, local shops and own label

A survey conducted by the consultants found:

• 22% of adults said they would spend more at discount supermarkets

• 19% will spend more at local retailers, because they are cheaper to get to and offer perceived good value

• 18% will be spending more on retailers' own label products rather than national brands

Further findings included:

• 36% won't be visiting a pub or bar in the next 12 months

• 25% will spend less on eating out at restaurants

• 35% won't be visiting a fast food outlet over the next 12 months

• 24% will be spending more on home and garden improvements

• 17% will be spending less on clothes from value retailers like Primark

Some 84% of Britains though the UK will enter a recession or economic slowdown in the next 12 months, up from 57% three months ago.