Sainsbury’s: low consumer confidence ‘unjustified’

The chief executive of supermarket chain Sainsbury’s says that low confidence amongst shoppers is causing people to change their spending habits.

Justin King, head of J Sainsbury, claims that consumer confidence reflects an unrealistic outlook on the extent of the UK’s economic struggles.

“We have an incredible habit of talking ourselves into a worse place than we are in,” he told the Financial Times.

But a spokesperson for debt management company Gregory Pennington said that consumers are right to be careful, especially when it comes to food shopping.

“There is a genuine and justified concern that rising food costs could cause real financial struggles and potentially even debt.

“Attempting to save money is advised at the best of times, but now it is more important than ever. If it means the difference between living comfortably or struggling with debt, most consumers will go with the option that saves them money.”

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