68% of UK shoppers are looking at ways to reduce their weekly spend, finds survey

March 2023 - Retail

68% of UK shoppers are looking at ways to reduce their weekly spend: A survey by Barclays has revealed that almost 7 in 10 consumers are looking for ways to cut back on their weekly spend, as the cost of living crisis deepens.

The survey is based on consumer card spending data taken from debit card and Barclaycard credit card transactions, as well as a consumer confidence survey of 2,000 UK consumers.

When asked about where they were making cutbacks, almost half of the shoppers polled (49%) said they have reduced the number of luxuries and personal 'treats' they buy for themselves, while 48% said they are buying more budget and value ranges. Others are making a shopping list before they head to the supermarket so that they only buy the items they need (46%).

A challenge to supermarket loyalty?

Almost a third of shoppers said they are shopping at a number of different supermarkets to find the best bargains, while 30% say they are shopping in the largest supermarkets as they tend to have better deals than smaller stores.

Food shortages impacting behaviour

The survey also addressed the current food shortages experienced in supermarkets, with half (51%) of the respondents polled reporting that they have noticed shelves are considerably emptier than usual, with just over a third saying they have been less able to buy the products they need (35%). In addition, a third of shoppers said that they have experienced supermarkets restricting the number of items that shoppers can purchase (33%).

When asked about the items they have seen absent from supermarkets, tomatoes were the top item cited (43%), followed by eggs (34%), cucumbers (22%), peppers (19%) and lettuce (16%).

The research also found that many people are buying so-called 'dupes' of well-known, more expensive items, with 68% saying they have bought food and drink 'dupes', while others have bought clothing (28%) or make-up and beauty product dupes (24%)

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