Research from Barclays has found people are willing to spend more on their Christmas meals this year if they know the ingredients have been sustainably sourced.
Barclays proprietary data has found spend at independent food & drink businesses has rocketed by 58 per cent when comparing 2021 figures with 2019. On average, spending in November has grown by 24 per cent year-on-year since 20194.
Christmas is a critical trading month for independent food & drink business, and those outlets who source their groceries sustainably could benefit from a £5,518,957-million-pound boom.
Over half of people in Wales (54 per cent) said that they have noticed an independent food & drinks shop or market stall opening near to where they live over the past two years5. When asked which new food outlets they’d seen opening over the past two years on their high streets, the most common were market stalls (37 per cent), independent bakers (33 per cent), independent butchers (33 per cent), local farm shops (33 per cent) and independent grocers (27 per cent). Three in ten people (29 per cent) said they will buy produce at these businesses this Christmas if they think it will reduce their carbon footprint, while 29 per cent are drawn to their premises if it means they don’t have to drive anywhere.
Two fifths of consumers in Wales (39 per cent) said they have become more climate-conscious this festive season due to the media attention on protecting the planet this year. This has had an impact on festive shopping routines, nearly three in 10 (27 per cent) of respondents saying they have checked the sustainability credentials of the shops they’re ordering from, and 21 per cent going out of their way to buy food that is organic or sustainably sourced.
The sustainable Christmas meal boost to UK businesses6
|UK region||Average additional spend on a sustainable Christmas meal||The regional Christmas meal windfall|
|East of England||£3.10||£14,339,243|
|Yorkshire & Humberside||£2.90||£11,881,087|
Hannah Bernard, Head of Business Banking at Barclays, said:
“It’s great news that many shoppers are trying to shop in a more environmentally friendly way and support local independent businesses this festive season. The increase in spend will provide a very welcome boost to many retailers.
“Over half of small businesses in the UK consider reducing their environmental impact a top priority, and we know that many of our customers are taking steps to become more sustainable and play a key role in tackling the climate crisis. We’re committed to providing the support that our customers need to help them drive that positive social and environmental change.”