Upbeat: Waitrose boss James Bailey (pictured), said ‘people are beginning to feel slightly more confident about finances’
The boss of Waitrose has said shoppers are buying more ‘treats’ as the cost of living squeeze eases.
James Bailey, the firm’s executive director, said ‘people are beginning to feel slightly more confident about finances’.
‘Customers are beginning to trade back into some of the premium tiers – buying more brands, more treat products,’ he added. But Bailey said shoppers were ‘still looking for a bargain,’ with an uptick in spending on promotions.
His comments came as supermarket prices fell for the first time in nearly three years – down 0.3 per cent compared to 12 months earlier.
The drop was driven by non-food products – clothing, furniture and electronics – which fell 1.5 per cent year-on-year.
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