Shoppercentric report highlights the variety of tactics consumers use to cope with increasing household costs
Over 90 per cent of shoppers are now exercising reason (94 per cent) and economising (92 per cent) when it comes to making purchasing decisions, according to research from Shoppercentric.
Following up from its “Shopping in the Recession” reports which have been published regularly since the start of the recession back in January 2009, Shoppercentric hopes the latest update will provide insight into how shopper attitudes are increasingly changing.
As well as prudence and economising other popular shopper strategies were avoidance of certain stores or products (89 per cent) and active shopping where consumers ‘shop around’ to get the best deals (87 per cent).
Shopper attitudes have changed vastly in the last three and a half years since the recession hit, according to those surveyed almost a third (32 per cent) actively avoid wastage, an increase of 12 per cent since 2009.
Today’s shoppers are also more aware of pricing with 34 per cent citing price as a main issue when it comes to purchasing decisions, an increase of 11 per cent from 2009. Of those surveyed 28 per cent said they tried to make their purchases go further an increase of 11 per cent since 2009, and 32 per cent of shoppers are now actively seeking out discounts compared with 23 per cent of shoppers in 2009. There has also been a nine per cent increase in shoppers avoiding expensive and upmarket stores increasing to 30 per cent from 21 per cent back in 2009.
Shoppercentric director, Iona Carter, commented: “Thanks to the prolonged recession period, there has been a fundamental shift in the consumer mind-set and it is clear from these figures that retailers and brands will need to use a range of strategies to persuade shoppers to part with their hard-earned cash this year.
“Savvy behaviours are becoming engrained and consumers are feeling increasingly confident that they can get the most out of their money. Successful marketing strategies will focus on understanding shoppers needs, exploring what value means beyond price point or promotion and look to generate interest in-store through more creative retail environments – or even more interactive transactional sites online.”