Almost Half of UK Consumers Want Brands to Absorb Price Rises
Almost half (43%) of UK consumers want brands to absorb price rises in supporting customers during the cost-of-living crisis, an Ello survey reveals. The figure comes as 31% of the survey’s 1,000 respondents can no long afford to but from all of the brands they would usually shop from with rising costs shifting their brand loyalty.
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“The cost of living crisis is a challenge the government, businesses and consumers are all fighting right now”
As inflation levels have hit a 40 year high, rising above 10%, the research found that 40% of consumers have had to scale back on spending.
Supermarket switching is also becoming increasingly frequent with 17% shopping elsewhere to save money on rising food prices with an additional 15% considering the change. In looking for an alternative, the survey found that 42% are more likely to remain loyal to brands if they are offered discounts on other products that they buy.
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