A recent study revealed the impact of higher prices on consumers as the number of people who preferred to eat organic food fell by nearly a third in early 2022 as the cost of living rose.
Figures from the IPA TouchPoints 2022 data set, released Tuesday, showed that the number of adults choosing not to buy genetically modified food has fallen by nearly 40%.
The research, conducted between January and March of this year, points to a strong relationship between people’s shrinking budgets and their less healthy food choices after decades of high inflation that caused prices to rise unprecedentedly.
According to the report, people’s preference for organic food declined sharply in the first three months of the year, especially among younger generations and women, dropping from 15.1% to 10.9%.
It found that the number of consumers reporting they are dealing with their current salary has fallen 5.5% from 67.4% to 63.7% since before the pandemic in 2020, with only half of young people saying they are dealing with their income.
The drop was most pronounced for women, dropping by 7.8% compared to a 3.1% decrease for men at 61.6% versus 66.0%, respectively.
Read more: The UK’s income gap reveals the story of two Britons
The 9.5% drop in those who said they were dealing with their current income was also higher for the younger generation aged 15-34 (51.7%), while those aged 35-54 registered a 7.4% drop (59.7%). ), with the older generation. Those over 55 years old at -0.51% (77.8%).
“The past few years have been exceptional as the pandemic has affected every corner of our lives,” said Julian Douglas, president of the International Physics Union. “And now we have a cost-of-living crisis, which is throwing us into even more chaos.”
More than a quarter of adults and 40% of the younger generation felt their debt level would rise in the next few years, with this figure rising by more than 50% for those aged 35-54 from 20.8% in the pre-lockdown 2020 to 27.8% in the early 2022.
The number of all adults who feel confident about the economy halved between the start of 2022 and pre-lockdown 2020, with women being significantly less confident than men.
Read more: UK at risk of recession with rising cost of living and inflation
Belinda Beeftink, director of research at IPA, said: “These new findings seem to show us that even at the start of the year, with finances tightening, people should buy what they can afford rather than have the luxury of choice.
“We can only imagine as inflation rises and clouds of stagnation begin to emerge, such stats will become more bleak. Thus for any brands and their agencies dealing with this – whether it is food related or not, it might be wise to focus their business on Emphasizing value for money, on essentials versus luxury and on being seen as being in tune and supportive of their customers at this difficult time.”