On Thursday, the CEO of Britain’s largest retailer Tesco (TSCO.L) said shoppers would continue to prioritize value in 2023 as they fight inflation.
“The consumer trends that we would expect to see continue in 2023 is that (shoppers) will continue to look for competitive prices and value very closely,” Chief Executive Ken Murphy told reporters after Tesco revealed 2022-23 results.
When the cost-of-living crisis hit last year, consumers continued to save.
“The trend of them having more staycations (and) eating in more often will continue and persist through the summer,” he added.
He predicted people would keep buying chicken instead of beef and cooking in bulk.
