Indies best placed to tackle cost-of-living crisis

A survey revealed 9% of respondents intended to prioritise food items over other nonessential purchases

Inflation cash money coins

Independent stores have been tipped as having the right tools to tackle the current economic crisis, despite concerns about further rises in energy bills and inflation towards the end of the year.

The comments came in the same week financial experts revealed price-cap predictions for October were up by 78%, meaning households could face bills of more than £3,800 a year.

PwC UK’s director of retail strategy, Kien Tan, told betterRetailing that although budgets are being squeezed, independent retailers “have a role to play in helping consumer budgets by providing a local alternative and enabling them to buy smaller baskets”.

“Going forward, consumers will trade into own label or cheaper brands, and some segments of the population won't be able to afford big shopping trips,” he said.

A survey, published by the firm in June, asked more than 2,100 adults how optimistic they felt about their disposable income over the next year, with 9% revealing intentions to prioritise food items over other nonessential purchases.

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