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London Exporter Guide 2024

In 2023, the United Kingdom continues to face a cost-of-living crisis. Price inflation remains a concern negatively impacting consumer purchasing decisions. For example, October 2023 food prices were 30 percent higher than in October 2021. Food price inflation has gradually declined over the last half a year from 19 percent (in March 2023) to just over 10 percent (in October 2023). Discount retailers such as Aldi and Lidl have gained market share, with two-thirds of households shopping at these stores, as consumers prioritize price in their food purchasing decisions. However, the UK market continues to provide growth opportunities for U.S. consumer-oriented products including specialty foods, wine, sauces, fruits, and nuts.

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