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Natalia has a lead role in research, data and analyses covering the packaged and fresh food industries, with an in-depth focus on the UK market. Beyond this national specialism, she contributes to broader understanding of global trends via strategic briefings and further market evaluation through global company profiles.
Natalia has a deep interest in consumer insights around staple foods and fresh food, and specialises in Euromonitor International’s Forecast Model, integrating intuitive forecasting with quantitative techniques. Natalia holds an MSc in International Marketing and Brand Management and a Master's in Economics.
The cost-of-living crisis has forced more price-conscious purchasing decisions among consumers in the UK. Value-orientated retail channels such as discounters have recorded significant gains, accompanied by growth of private label products. In contrast, retailers operating in the higher price tier have experienced a slowdown in sales, and brands have struggled to stand out in the intensified value-driven competition.
Following a year of strong inflationary pressures driven by the global energy crisis, shortages of raw materials, and high labour and transport costs, staple food producers may have hoped for an easier time in 2023. However, over the last year, they were forced to navigate an industry further challenged by weakened consumer purchasing power, trade restrictions, stricter health regulations and rising concerns on climate change.
Persistent inflationary pressures in Western Europe are forcing consumers to re-evaluate their spending priorities. While higher price sensitivity has led to a general reduction in non-discretionary spending, demand for affordable luxuries resists as consumers increasingly seek in-home luxuries and customised experiences. This article explores the primary audience for affordable luxuries and the specific product attributes consumers are willing to pay for.