Grocers have once again bucked the trend and seen “modest” growth in the past year, according to fresh figures released by the Confederation of British Industry (CBI).
The CBI said that while the high street suffered during August because of poor weather food retailers fared better.
Business confidence is also continuing to slip, the company added, and a balance of 38% of firms think that conditions will erode further in the coming three months.
Retail director at Asda and chairman at the CBI distributive trades panel Andy Clarke noted that there is a definite pattern beginning to emerge.
“Shoppers will continue to be forced to look around for the best value on offer for all their purchases – not just their groceries,” he said.
The CBI has this month also altered its predictions for the economy over the year ahead as the mood has “darkened”.
