UK shoppers enter stockpile mode ahead of Brexit, GlobalData
So much for ‘keep calm and carry on’. Over a quarter of UK shoppers have either begun stockpiling or plan to do so ahead of Brexit, according to a GlobalData survey of 2,000 people.
Thomas Brereton, Retail Analyst at GlobalData, comments: “Two-thirds of all shoppers believe that the price of their usual food and grocery shop will rise notably, and just over 10% of people claim they are already stockpiling products. It is the fear of price increases rather than shortages that is the biggest driver – with 60% of stockpilers doing so because of a belief of higher prices post-Brexit, and 52% doing so in anticipation of product shortages.”
Also of interest: What will happen to the retail sector in post-Brexit Britain?
41% of respondents are also gathering over the counter medicines in preparation for a lack of availability. Brereton adds: “There has simply not been enough information provided by the government on how food prices, availability and regulations will be affected in the event of a no-deal Brexit. The just-in-time supply chain that UK supermarkets operate on means that there is not the specialist infrastructure in place to deal with stockpiling – particularly of fresh goods – and it is important that the Government provides clarity on the situation as quickly as possible to reassure shoppers.”