A new study by out-of-home media firm Clear Channel offers insights into how the cost of living crisis has affected consumer buying behaviour when it comes to grocery shopping.
The report found that 75% of British people have changed their grocery shopping behaviour due to the squeeze on their finances, with more than one in five survey respondents saying they have cut down on essentials.
Unsurprisingly, the study reveals that nearly half of shoppers (45%) are cutting down on luxuries and treats, while 38% of people do their best to avoid impulse purchases. Other ways of adapting to the cost of living crisis include shopping at cheaper supermarkets (37%), swapping usual brands for own labelled goods (35%), and shopping less frequently to avoid overspending (26%). Only 13% of British consumers didn’t have to adjust their spending in the wake of the financial insecurity.
Clear Channel’s research also revealed that 96% of people prefer to shop in stores than online. Surprisingly 16-24-year-olds behave more like Boomers than Millennials when it comes to grocery shopping behaviour, with 59% stating they prefer to shop in person than online – the same preference as their Boomer counterparts.
When it comes to the main reasons why British consumers favour in-store shopping, being able to immediately assess a product’s quality (63%) plays a key role. Immediate availability of the product (53%) and being able to obtain better deals (43%) round out the top three main reasons for shopping in person. Nearly one in three believe they are more likely to discover new products, while 25% value the in-store customer experience.
Key findings from the survey:
- 96% of British consumers shop in stores, with 45% preferring to shop in stores only, 8% online only and 46% shopping both in-store and online.
- Key drivers for product selection are discounts (65%), the cheapest price on the market (37%) and products from a well-established brand (27%).
- One in 10 Brits impulse buys every time they shop.
- Residents in Plymouth, Brighton, Newcastle, London and Liverpool are the most likely to make impulse purchases.
- Food (55%), clothes (29%), drinks (25%), takeaways (24%) and household items (23%) are the top impulse purchase categories in the UK.
- The top impulse purchase categories for men are food (55%), drinks (31%) and takeaways (24%) while for women are food (54%), clothes (35%) and household items (26%).
Ben Hope, Marketing Director at Clear Channel UK, said: “In light of the ongoing economic uncertainty and its effect on consumers, we looked to conduct a study that would help brands to better understand buying behaviour.
“The potential for communicating brand messages through in-store and Out of Home advertising is still as relevant as ever, as shoppers are refusing to compromise on the experience they have by shopping in-store, even if their goal is to spend slightly less. What might surprise many is the trend for the younger 16-24 generation towards the physical in-person experience.”
