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July 2023 - FMCG

A third of shoppers are shopping at multiple supermarkets to cut costs: A survey of UK shoppers has revealed insight into their changing shopping habits with a third (32%) saying they now shop at multiple supermarkets to find the best deals. Two-thirds of shoppers said they were actively trying to reduce the overall price of their weekly food and groceries shop, while two-fifths said they were buying more heavily discounted ‘yellow sticker' items where they could.

The survey for Barclays of 2,000 UK consumers also found that 81% of shoppers are concerned over what is being dubbed 'shrinkflation' -  alluding to the fact that many products are becoming smaller than their original size, yet remain the same price to buy. Three in 10 shoppers who have noticed this happening said they now buy their favourite product only as a treat, while 18% said they had found an alternative brand that has not reduced in size.

According to survey findings, 70% of consumers have seen shrinkification amongst their favourite products in June 2023, up from 65% in May, with the most notable items cited as chocolate (46%), crisps (42%) biscuits (37%) and snack bars (32%)

Also revealed by the survey was that one in five respondents believe they have seen a reduced number of new products being introduced into supermarkets.

As people try to make ends meet and navigate the cost-of-living crisis, the research found that discount store spending was up 8.8% in June, while consumer card spending also grew 5.4% year-on-year. It also found that spending on eating out had also fallen by 8.2% as three in 10 consumers said they plan to spend less at cafes and restaurants to balance their finances.

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