Magnet #68 16/09/22

Welcome to another edition of Magnet, enjoy.

HFSS rules to be scrapped?

New prime minister Liz Truss might to scrap incoming and existing rules designed to deter consumers from buying unhealthy foods, reports from The Guardian say.

The newspaper says that the prime minister is looking to ‘“cut red tape” for businesses. Measures potentially on the chopping block are rules around where foods that are high in fat, sugar and salt (HFSS) can be displayed and when certain products can be advertised’.

From October, HFSS products will be no longer eligible to be displayed in “impulse” areas of stores. Rules were also due to come into force in January that would ban HFSS advertisers on TV pre-watershed, but  have been delayed until 2024.

The Guardian’s sources report that the government is currently  conducting a review into cutting restrictions that may burden businesses, and reportedly, the scope of the review goes as far as looking at the tax on sugary drinks, which began in 2018.

Second Hand Shopping: changes in consumer behaviour

Ebay UK has recently released results from a survey that they conducted about the rise of second hand shopping. These are the facts:

·         30% of consumers are having to make more considered purchases in order to get better value for money. A fifth (19%) are buying more second hand items in order to save money.

·         25% of UK consumers are buying second-hand fashion in in 2021.

·         In January 2022 searches for ‘upcycled’ rose 40% on eBay, compared to the month before.

·         Searches for second hand and repair kit rose 24% and 21% in the same time frame respectively.

·         Searches for pre-owned increased a further 38% in Jan 2022, and searches for the term biodegradable rose 59% in Jan 2022 compared to the previous month.

This would imply we’re about to hit a wave of more apps like Depop & Vinted, and a boom in buying and selling second hand- something brands might want to get behind.

Paying respects to the Queen:

Some of the UK’s biggest brands have decided to shut their doors on Monday (19 September) as a mark of respect during the funeral of Queen Elizabeth II.

The UK’s top supermarkets, including Sainsbury’s, Tesco, Aldi, Lidl, Waitrose, Asda and Morrisons, have all said they will close on the day of the Queen’s funeral to allow staff to mourn. They are joined by others including John Lewis, Primark, B&Q, Argos, Homebase, Harrods and WH Smith, which have all issued statements this week explaining their position.

Asda confirmed its stores will close from midnight on Sunday (18 September) until 5pm on Monday to allow staff to commemorate the Queen’s “steadfast service to our nation”.

Meanwhile, Cineworld will close all its UK cinemas to mark the state funeral, whilst Vue is offering free screenings of the funeral.

Greggs and McDonald’s have joined the growing list of brands choosing to close as a mark of respect for the Queen’s funeral on Monday.

While retailers have largely taken the decision to close, many pub chains are pledging to stay open.  Our client Greene King will keep its pubs in central London, and those with televisions, open across the country to screen the funeral service. Fullers Group expects to keep most of its 400 pubs open and brewer JW Lees will open the doors to its 44 pubs, describing them as “hubs of the community”.