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Consumers Are Taking Action To Combat Inflation, Shopmium Study Finds

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Consumers Are Taking Action To Combat Inflation, Shopmium Study Finds

Some 77% of UK consumers are taking action to save money when grocery shopping amidst a challenging economic situation, a study by supermarket media and promotions company Shopmium has found.

Inflation is leading to the highest increases in supermarket prices in 40 years, and 69% of shoppers are buying less and/or paying more attention to what they buy, according to Shopmium’s study.

Promotions And Discounts

Elsewhere, some 79% look for promotions and discounts, 52% would buy a product if it is on offer, and 64% are switching to cheaper products, including private label brands (58%) and lower cost retailers (55%).

The study said health and sustainability are not currently core decision factors for consumers, with only 6% and 3%, respectively citing these as key purchase considerations.

Moreover, half of UK shoppers are fearful that they provide enough meals (49%) or quality meals (63%) for their family in winter, due to the access to a lower than average income (67%).

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Elsewhere, the majority of consumers who eat out prefer to bring lunch (69%) with them, in comparison to the 9% and 3% that buy it in a supermarket or restaurant, respectively.

At Christmas, 47% will plan a dinner at home – specifically 25 to 34 year olds (61%) – and 25% said that they don't plan on eating out at all, opposed to 68% who will do it once a week.

'Economic Crisis Intensifies'

“Our survey uncovered very definite changes in grocery shopping habits, as the economic crisis intensifies and consumers struggle with reductions to disposable income,” said Stuart Sankey, head at Shopmium UK.

“Now more than ever, UK shoppers need the support of brands and to feel they are helping address the dire situation many consumers have been left in. Ensuring price points are as low as possible and offering promotions and discounts on the items that consumers most need, such as products for creating quality lunches and dinners, or treats and snacks for a big night in, will go some way towards supporting customers in financial hardship."

© 2022 European Supermarket Magazine – your source for the latest retail news. Article by Amanda Merchán. Click subscribe to sign up to ESM: European Supermarket Magazine.

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