Survey Uncovers Retailers Voted Top for Helping Cash Strapped Consumers

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28th February 2013 16:27 - Retail

 

An online survey of 2,000 UK consumers has revealed the budget brands and supermarkets which have garnered the most praise for helping cash strapped shoppers during the difficult post-Christmas month of January.

Topping the list of brands was Poundland with a 41% rating, followed by Asda (38%), Tesco (35%), Aldi (32%) and Lidl (31%)

The post-Christmas period is viewed as the worst time of the year by 45% of consumers. Since it is common to spend more than planned over the festive season, the market research found that 74% of the respondents reported financial struggles in January.

Furthermore, 80% of the respondents who are mothers said they found January to be the most difficult month financially, with 76% of them needing to cut their budget at this time of year and the goods most likely to be sacrificed being their own clothing (41%) plus non-food treats (44%).

This indicates that January is a crucial time for brands to support financially challenged consumers - companies that offer good discounts differentiate themselves from competitors as they are perceived as helpful, which engenders consumer loyalty.

The market research also discovered what consumers find especially helpful from brands, namely refraining from hiking their prices at the start of the New Year, reducing delivery costs and being more honest about pricing – for example, one respondent commented that “Two for one deals aren’t always cheaper. Smaller packs can be cheaper than larger packs.”

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