Saturday, October 14, 2006

Organic food retailing is hopping

Would you pay more for ethical food products?
How much more would you be willing to pay? 10%? 20%?

Market analyst Mintel, estimates that consumers are now willing to spend quite a bit more on buying ethically made, free range, fair trage and organic products. Consumers in the UK will be spending GBP2 billion this year alone on these products and this market has been growing at 62% in the past four years.
While supermarkets once competed in price wars over bread and baked beans to attract customers, they are now expanding their "conscience-light" ranges to cope with increased demand.

Crucially, the Mintel research found one third of adults now believe it is worth paying more for food that is fair trade, organic and locally sourced.
Tesco and Sainsburys in the UK have both seen increases in their sales of organic food products and US based Whole Foods,one of the fastest growing food retailers, has a very large and varied section of organic products.

Read the article in The Independent.

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