New research released this week shows most shoppers in the UK have grown more price sensitive in the last twelve months. Additionally, these consumers are eager to work to find bargains and take the time to compare prices before shopping.
Key findings of the UK shopper research:
- 77 percent of shoppers surveyed have grown more sensitive to price in the past 12 months.
- Price primarily drives purchasing decisions for 73 percent of shoppers.
- 85 percent of shoppers believe their purchasing power has decreased or remained constant over the last year.
- 97 percent of consumers shop for price over brand at least some of the time.
- 94 percent of consumers would drive 5-10 minutes out of their way for a £5 discount on a £30 product.
- 92 percent of consumers compare prices before they shop at least sometimes.
- Cash back offers are very popular; 82 percent of consumers look for cash back offers specifically.
- 70 percent of shoppers ask friends, family and colleagues for advice on deals and best prices at least sometimes.