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Investment in convenience sector hits record high of £1bn

17 Sep 2024

Over the last year, convenience retailers have spent a combined £1bn (up from £646m in the previous 12 months) refitting their stores, installing new energy efficient refrigeration... Read more…

Bira responds cautiously to encouraging trends in KPMG Retail Sales Monitor report.

3 Sep 2024

The British Independent Retailers Association (Bira) has responded to the BRC-KPMG Retail Sales Monitor for August 2024. The report, which can be downloaded here, has highlighted:
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Pet Shop owner nominated for award for food bank donations

2 Sep 2024

Rebecca Harrington, owner of Purdy's pet shop in Coventry, has been nominated in the animal category at BBC CWR's Make a Difference awards for providing pet food parcels to food banks
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Standardised witness statement developed for retailers submitting CCTV evidence to the polic

2 Sep 2024

The National Business Crime Centre (NBCC), in collaboration with the Crown Prosecution Service (CPS) and police forces, has developed a standardised witness statement for retailers submitting... Read more…

Sheffield’s new independent retail hub opens to the public

2 Sep 2024

A redeveloped Grade II* Listed hub in Sheffield has opened its doors to the public for the first time, providing a contemporary city centre hub for some of the city’s finest... Read more…

Government urged to protect independent retailers as part of living wage increases

2 Sep 2024

The national president of the Federation of Independent Retailers has written to the new secretary of state for business and trade, Jonathan Reynolds, to highlight the impact of higher wages on... Read more…

Barbers to test blood pressure to fight inequality

2 Sep 2024

Two barber shops in south London are offering customers free blood pressure tests to tackle undiagnosed health issues amongst black and Asian men.
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Bira welcomes recent Bank of England interest rate cut

14 Aug 2024

The British Independent Retailers Association (Bira) has welcomed the Bank of England’s recent decision to cut interest rates from 5.25% to 5%.
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Community rallies around shop owner’s appeal after ‘devastating’ break-in

14 Aug 2024

A shop owner in Bramley, West Leeds, has thanked kind-hearted members of the community after her shop was targeted by burglars.
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National and local governments called on to invest in the repair of the retail sector after recent riots.

14 Aug 2024

The recent wave of civil unrest in the has dealt a severe blow to the UK retail sector, with high-street stalwarts and independent stores alike bearing the brunt of the violence.
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Increasing numbers of UK consumers limiting their spending to goods on promotion

Posted on in Business News

Research of over 1,000 UK shoppers by Pricer shows 27% now only buy grocery items which are on offer – a +6 percentage increase compared to 2023. 

Promotions

This, Pricer suggests, shows that, despite inflation starting to ease, both pricing- and promotions-sensitivity continues to remain high among consumers. 

Younger demographics were more likely to exclusively buy items on promotion, with Millennials saying that 47% of all the food they buy is on offer, while 37% of Gen Z’s shopping baskets consist of promotional or marked down produce.

“While inflation is starting to ease, it will take a little while for that ripple effect to make its way into consumers’ shopping behaviours, so we expect customers to remain sensitive to pricing and promotions for some time to come,” says Peter Ward, UK Country Manager at Pricer. 

“Whether it is via promotions accuracy, on-shelf availability and replenishment of items of offer, fast roll-out on markdowns for near expiring goods or simply alerting customers to the offers available at the shelf edge, shoppers are expecting the retailers they shop with to make it as easy as possible for them to get the best deals.”

And such now is the dependency of shoppers on promotions, that 41% of the UK consumers polled by Pricer say they have shifted the times they visit supermarkets and food stores, opting to shop towards the end of the day when markdowns on products usually take place – an increase of +2 percentage points year-on-year. 

Meanwhile, two thirds now shop across a greater number of supermarkets to get the best prices, rising to 74% of Gen Z, and a further 68% say they choose to shop across a larger number of supermarkets to get the best choice of products and promotions. 

As well as seeking out promotions and markdowns offered directly by retailers on food goods, consumer adoption of food distribution apps, such as Too Good To Go, are also rising, as shoppers look to benefit from good deals while also acting sustainably by preventing food waste. 

Too Good To Go said, since partnering with Aldi in February, for example, it had sold 500,000 ‘surprise bags’, which offer significantly discounted goods nearing their expiry dates. This has helped customers save over £7 million as well as preventing 1,500 tonnes of C02 from food waste going to landfill.

 

 

 

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