How are consumers responding to the cost of living crisis?
Switching to discounters, buying less alcohol and sacrificing some of their sustainable shopping habits are among the findings of a Lumina Intelligence survey which reveals how habits are changing and which product groups are most affected.
Concern is growing about the increases in grocery shopping bills, with 61% of the 45-54 age group being the most anxious, while one-third of shoppers say they have started shopping at a discounter and a further 16% changing their regular ‘Big 4’ retailer.
Alcohol is the category consumers are cutting down most on (47% of consumers), while cakes, biscuits and confectionery (45%) and bagged snacks (36%) are the next in line for saving in the household shop.
Interestingly, although online shopping has been reducing as a share of overall grocery since the re-opening post pandemic, some 38% of younger age group 18-24 say they have started online shopping to reduce journeys, mindful of fuel costs. This age group is also the most likely to buy products with sustainable packaging whatever the cost (23%), while only 6% of the 45-54 age group claim to do so.
The sustainability issue appears to be polarising. Across the UK 24% of shoppers believe that retailers should continue to prioritise sustainable options, but this falls to 10% in Wales.
Consumers are calling out for keener prices on sustainable options, with better information, more promotions (56%) and more advice on how to be sustainable on a budget all being asked for.