“Consumers are definitely in a worse place than reality. Maybe they see the train in the tunnel and realised it is a train and they are acting accordingly, but actually I am an optimist,” he commented.
He added that that the future can be changed and the supermarket will be looking to target the current mindset of customers with own-label products.
And a switch to the company’s own goods does not mean that people will be getting a reduction in quality, he said.
Drifts towards products such as fair trade mean that the supermarket will be in a good shape should competition heat up.
Analysts have recently argued that J Sainsbury will be the outfit most exposed to difficulties if food price inflation slows down towards the end of the year, because it has in the past been associated with higher charges, Reuters said.
