Upmarket Food Stores Still Looking To Expand
In line with the alarming rise in consumer spending in the month of May it seems as though the higher end of the food retail market is still holding up relatively well. Recent news from upmarket food retailers Waitrose and Daylesford Organic that they are looking to open news stores in the City has rather surprised a number of investment analysts. At a time when food prices are moving up it seems that those in the larger income brackets are prepared to chase prices higher and higher.
The success of stores such as Waitrose and Daylesford Organic seems to be connected with the timing of their expansion plans. So far they have done very well to time their growth in areas where demand is high and likely to remain fairly unaffected by economic conditions. However, with food price inflation substantially higher than general inflation there is a concern that the forthcoming expansion plans may be a little rash.
In general the whole of the UK is suffering from a general rise in the cost of living, much of which can be traced back to the massive leap in the oil price over the last couple of years.
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