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Fairtrade Sales Boom in 2007
17th January 2007
A recent report by Market analyst Mintel forecasts that UK shoppers spent over £2bn (€2.9bn) on ethical foods in 2006 alone, up by a massive 62 per cent since 2002.
Within the ethical foods market, Fairtrade is worth £230m (€342.7m) and has experienced a 265 per cent growth between 2002 and 2006 alone.
In addition, Mintel predicts that Fairtrade will see a further 138 per cent growth over the next five years, with sales reaching £547m (€815m) by 2011.
UK retailer Waitrose has become the latest store to target the mounting number of ethically-minded consumers with a new range of Fairtrade chocolates and coffee. This move is a result of Fairtrade sales doubling every year at a rate of 40 to 50 per cent. The Fairtrade Foundation predict that sales will continue to grow as retailers wake up to consumer demand.
Clive Cooper of Brand Republic predicts 2007 will see organic go mainstream to include clothing, cars, holidays. The encapsulation of wellness has extended resulting in a surge of interest in the eco-lifestyle in particular; crossing all previously distinguished barriers as a new symbol of status. The current growth in organic and fairtrade food is rapidly being supplemented by ethical and organic variants as wide ranging as clothing, holidays, household goods and newly built homes.
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