Mr. Ian Allen:

To ensure one gets consumers in, one needs to provide them with a number of things. Value for money is paramount. No doubt they need value for money. They need to be able to feed their families and all segments of the consumer market are stressed at present. However, other matters are at play also. Consumers still want to treat themselves. They still want to buy quality products and they still want to be able to shop local and save on fuel. All of these factors have to be taken into account. We would believe, given our location in the local communities that has been alluded to earlier here, that we are in a great position to provide them with all of those needs and tick the box on all of those needs.

Value is a huge factor. No doubt consumers will shop around. They are shopping around much more frequently. They are going to a much larger repertoire of outlets. Their loyalty levels to different stores or brands has diminished significantly but it is because they need to act in this way. We need to find other ways to meet their requirements, through quality of products, local initiatives, local support, local employment and smaller pack sizes. For example, if they have got a need to buy little and often, we need to be more innovative in the products that we provide, and the pack sizes and the pack formats, addressing matters such as the shelf life of products. They want to be able to buy products to which, when put into their fridges at home, they can go back two or three days later and they need not throw them out. At present, they are trying to manage waste. All of these factors are at play. It is not single-handedly down to value but it is a significant element.