The growing popularity of fast food has been driven by economics, as people trim their budgets and stay at home more in the face of rising unemployment in the UK.
On the other hand, while supermarkets say people are also cooking more from scratch, there is some indication that fresher food is falling out of favour. Sales of fresh fruit and vegetables rose by 3 per cent last year, according to data provider Nielsen, less than the growth of the food market as a whole. Organic food sales have declined.
Sales of tinned goods, meanwhile, rose 8.2 per cent and frozen food sales rose 5.6 per cent after several years of stagnation.
Meanwhile, fast food chains dominate the £12.4bn franchising industry in the UK. More people have become interested in running franchises since the economy turned sour, in part because they are considered a safer form of start-up, says the British Franchising Association.
The change of living habbits will probably have some significant positive effects on those industries that are ready and are able to capitalize on these trends, such as:
1. fast food business, as people will prefer to eat at home with take-aways rather than eat out expensively in a restaurant;
2. convinient food producers, as people will prefer to those cheaper can-tin long-life products compared to other more expensive fresh food products;
3. businesses provide renting services on major home appliances, such as big screen TV, on demand movie/sports viewing compared to traditional contractual viewing;
4. alcohol retailing as people would prefer to drink at home rather thank drink more expensively in a pub;
5. home entertainments business to exploit the trend of staying at home cheaply but still having funs;
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