A London restaurant has rid itself of bills for an entire month and is asking customers to just pay what they believe the food and service is worth.Peter Ilic, owner of the Little Bay restaurant group, will not present a single food bill to diners at his Farringdon Road restaurant in Central London during February. “It’s entirely up to each customer whether they give £100 or a penny. All I’m asking is they pay me what they think the food and service is worth,” Mr Ilic, who... ...Read more »

Lower-income shoppers are increasing in number around the world, with the latest American-based research from Information Resources, Inc. (IRI) revealing that these consumers represent an enormous opportunity for retailers and manufacturers during the slow economy. That is provided they understand that lower-income shoppers are not a homogenous group. “The Lower-Income II Report: Serving Budget-Constrained Shoppers in a Recessionary Environment” report uncovers the critical differences... ...Read more »

Falling oil and raw material prices in combination with the discounter threat will lead to a significant easing in grocery prices in Europe in 2009, while six main areas of grocery retailing will be adversely impacted by the economic slowdown. Opportunities still abound, however, with the potential to emerge stronger in the wake of the downturn. The credit crunch has subdued many grocers’ ambitious plans for mergers and acquisitions, format diversification, international expansion and has put... ...Read more »

Amidst global financial meltdown and looming job losses, businesses – and employees – are apprehensive about what’s in store for 2009. Business information analysts IBISWorld have compiled a list of the “riskiest” industries this year, as well as those which are likely to be safe despite turbulent economic times.While the risk forecasts take historical data into account, they largely look ahead and consider vital information about the dynamic business environment and... ...Read more »

A number of organic producers in the UK have been forced to consider the prospect of losing their certification as high costs and falling demand bite and are looking at ways to sacrifice organic certification for only a short period of time. Organic feed costs for producers are estimated to be about double that of non-organic feed in the UK and some producers are beginning to struggle. Organic Farmers & Growers (OFG) disputed claims from UK newspapers that it has asked for organic standards to... ...Read more »

As the financial crisis continues to bite, cash-strapped British consumers are turning to discount supermarkets such as German giant Aldi to cut the surge in the cost of living, industry analysts say. Britons, widely-known for their devoted predilection for big-selling supermarkets such as Waitrose and Sainsbury’s, have begun looking elsewhere due to the rising increase in food costs. And with the festive season just around the corner, discounters are moving upscale, introducing organic, value-added... ...Read more »

Concerns about the future of some food suppliers in the UK has caused Britain’s leading retailers to create emergency plans in case suppliers collapse, according to The Observer. The impact of losing suppliers can be extensive, with a loss of one major supplier creating a major headache for supermarkets. “The worst thing for a supermarket is for a supplier to go under, because you are left with a big hole and investing in a new one is a big deal,” a Tesco spokesman said, according... ...Read more »

The number of Australian and New Zealand organisations that are planning to freeze staff levels or cut back has trebled since March, according to management consulting firm Hay Group’s latest Global Employee Pay and Staffing Survey. Seventeen per cent of the Australian and New Zealand firms polled said they would cut jobs, while 27 per cent plan to keep employee levels steady. Fifty-three per cent of may change previously-established budgets to increase base salaries in 2009, while 24 per... ...Read more »

A no-frills, back-to-basics attitude is set to be taking by consumers, manufacturers and retailers alike next year as consumers and businesses opt for caution in the face of economic fears, Nielsen advised in their latest edition of Consumer Insights. This will see many consumers focus on “going green” only when the cost is right, national brands fight back against private label with innovation in product design and packaging, and increased sales of products useful for ‘coooking... ...Read more »

Tesco, Britain’s largest retailer, has seen sales growth fall in the face of more intense competition and a struggling economy, but still remains positive about the future. The company, which is the market leader in the grocery sector in the UK, reported overall sales growth of 11.7% in the third quarter, but this was largely due to their international expansion – which some have credited with taking their focus away from their primary market. The company did note their food and grocery... ...Read more »