New research reveals 59% of consumers plan to change shopping behaviour
Consumer research commissioned earlier this year by Blackhawk Network (BHN), the leader in global branded payment technology, has revealed that 59% of consumers plan to change their shopping behaviour, with many already doing the following:
- 61% are buying less expensive brands or generic store brands.
- 52% are buying more products on sale.
- 44% are buying more products on promotion.
- 31% are using more vouchers or coupons when shopping.
- 27% are buying the same brands/products, just fewer of them.
Grocery and food prices are the biggest concern to consumers, with 70% selecting this as a top concern. With this in mind, 62% say they are more likely to purchase a gift card to cover their needs rather than what they want.
Anna Uprichard, VP and Regional Lead, Commerce EMEA at BHN said “Consumer confidence is rising, and consumers are willing to spend money. However, it is clear from the research, that more than ever, consumers want to get more for less. The consumers we spoke to aren’t planning on changing where they shop, but they do plan on changing how they shop.
“Particularly when we look at the younger generation, Gen Z, we’re seeing a real shift in how they purchase and particularly how they use gift cards, compared to the older generations. The younger generations are more likely to buy gift cards for self-use, with 29% using gift cards to manage/control their spending.”
The findings of the research have been summarised in an insightful report that delves into how consumer behaviour is changing and how gift cards can be used to stimulate high street spend.
The report is based on insight from over 14,000 consumers across EMEA.
