Almost Half of UK Consumers Want Brands to Absorb Price Rises

By: Trademagazin editor Date: 2022. 08. 28. 08:57

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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.

“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.

Grocery Gazette