Easing household budgets sees shoppers return to family values

Asda has reported a recent strong surge in ‘nostalgia’ shopping with sales of classic food brands like Bird’s custard powder flying off the shelves. Chief Executive of Asda, Andy Bond reported that the supermarket giant had exceeded annual sales and profit targets set by its American parent Wal-Mart in 2008. Within the stores, Asda have identified that shoppers are returning to traditional family values and are ‘shopping like their parents’. Sales of Bisto gravy were up 20 per cent and Vimto 11 per cent. Mr Bond said that although pressures on household budgets were beginning to ease, people were now living with the fear of being made redundant. He said, “We have moved from the reality of less money to a fear of unemployment. Some consumers out there actually have more money to spend than they did a year ago.” Asda expect to create around 7,000 new jobs and open nine new stores whilst also extending a further 15.