‘Average Brit spends almost £2,802 per year on grocery’

British consumers spend £2,802 per year on groceries alone, states a new report, adding that the current cost of food, especially groceries, is hitting consumers hard, with over a third saying they are worried about the rising cost of food (36 percent).

According to the latest Voucher Codes Food Spend Report released today (4), Britain spends £242bn per year on food. Money spent on food is about two-thirds of their annual food spend (62 percent) at £233 per month, states the report.

Brits are spending a further £924 a year on eating out and £768 a year on takeaways, or £49.83bn and £41.42bn as a nation, states the report.

Due to the ongoing cost of living crisis, over a quarter have taken measures to combat cost increases by buying cheaper alternatives to their usual purchases (28 percent), and over one fifth of consumers say they are having to buy fewer items to cut costs (22 percent). 

According to the data, food spending differs dramatically across the UK. Those living in London are the most extravagant with their food spending habits, splashing out a whopping £5,328 a year on food per head, 18 percent more than the national average. 

Greater London also spends the most on eating out at £1,464 a year, an enormous 58 percent higher than the national average. 

The report also states that generally, spending on food decreases with age, with those aged 16-24 spending the most of any age group, at an average of £6,048 a year, a third more than the national average (34 percent). 

Regarding the cost of living crisis, 10 percent have also said their food bill is too expensive and they can’t afford the cost. Around 28 percent have also opted for cheaper alternatives to keep food costs low.

Over a third of consumers are worried about food prices (36 percent) and one-fifth of consumers are buying fewer food items (22 percent).

“The cost of living crisis is already hugely impacting both retailers and consumers alike,” VoucherCodes senior director Angus Drummond said.

“This data proves that shoppers are already taking active steps to cut costs where possible when it comes to spending on food by swapping their usual brands for cheaper options, and reducing the volume of products they purchase.”