Lockdown Sparks a New Generation of Frozen Shoppers
- UK frozen food sales increased by £872m during the pandemic
- Retail frozen food sales now worth £7.21bn
- Frozen food market experienced a 13.8% year-on-year growth compared to total grocery’s 11.3% and fresh/chilled’s 9.3%
- Pandemic lockdown boosted the frozen food industry by £872m
- Online penetration increased by 140,000 households in March 2020
- Only 26% of shoppers plan to revert to pre-pandemic habits, while 55% will maintain new shopping habits
The COVID-19 pandemic has led to a significant increase in sales for frozen foods, with the British Frozen Food Federation (BFFF) reporting an £872 million boost in retail sales. The value of frozen food sold in UK stores now stands at £7.21 billion, marking a 13.8% year-on-year growth compared to total grocery’s 11.3% and fresh/chilled’s 9.3%. Richard Harrow, BFFF CEO, stated that the frozen food market has seen steady growth since 2005, reaching a CAGR of 3.3%, with the pandemic driving £872m sales from foodservice to retail. Despite challenges, the industry remains a success story. March 2020 saw record online penetration, adding 140,000 households, and recent research shows only 26% plan to revert to pre-pandemic habits while 55% will continue new shopping patterns.
Factuality Level: 10
Factuality Justification: The article provides accurate and objective information about the growth of frozen food sales during the pandemic, citing a recent report by the British Frozen Food Federation and including quotes from their CEO. It presents facts and figures without any sensationalism or personal opinions.
Noise Level: 3
Noise Justification: The article provides relevant and accurate information about the growth of frozen food sales during the pandemic, but it lacks in-depth analysis or exploration of the reasons behind this trend and does not offer significant insights beyond the basic numbers.
Financial Relevance: Yes
Financial Markets Impacted: UK frozen food industry
Financial Rating Justification: The article discusses the significant increase in sales for the UK frozen food industry due to the pandemic, which has financial implications for companies involved in this sector and may impact related stocks or shares.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: The article discusses the positive impact of the pandemic on frozen food sales, but does not mention any extreme event happening in the last 48 hours.
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