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'Gloomy' consumers to cut back on eating out

Published:  08 February, 2011

Over half of UK consumers plan to cut back on eating out this year and are feeling a lot gloomier about their financial prospects, according to new research.

The latest IGD's ShopperTrack research found that 61% of 1,000 consumers interviewed plan to spend less on eating and drinking out - it came top in the poll when IGD asked what people would economise on in the year ahead.

Responding to more pressures on their income, 61% believed they will be worse-off financially in the next 12 months, which more than double the level (27%) in October 2010.

When asked what products does the recent Government increase in VAT to 20% affect, top of the list with 79% was alcohol and tobacco.

Joanne Denney-Finch, chief executive, IGD, said: "Shoppers are clearly feeling a lot more downbeat than they were last year and plan to do some major belt tightening.

She added that shoppers seem to be less keen to economise on their food and grocery shopping, with only around a third (32%) citing this as a category they intend to spend less on."