50% of British have changed their consumption habits
Inflation is having a major impact on the way the British shop, this applies in particular to restaurants and tourism, but also to fashion purchases.
What if inflation has had a lasting impact on British consumer habits? At least, that’s what we can conclude from the results of a wide-ranging survey conducted by promocodius.co.uk involving over 5,000 consumers in the UK, as well as in the USA, Poland and Denmark. 50% of the British people questioned said that their consumption habits had changed “permanently”, compared with 48% for the rest of the world. Unsurprisingly, it is above all the catering, tourism and transport sectors that are most affected.
Consumers can’t give up food delivery but use coupons
In the UK in particular, catering seems particularly hard hit, with 61% of consumers claiming that their consumption has been permanently altered. However, this does not mean that the British will eat out less after the high-inflation period. On the contrary, according to the results of the survey, more of them will eat out once the inflation crisis is over, while continuing to order online and using discount vouchers. Alisa Sklyarova, a project manager at PromoCodius, notes that this trend has gained significant traction in the last year. This surge can be attributed to the rise of home delivery services and the availability of digital discount coupons for food delivery. She adds that the demand for discount coupons in the food delivery sector has risen by nearly 10%, with a particular emphasis on platforms like Uber Eats and Deliveroo.
Negative impact on fashion and beauty
While the foodservice sector may emerge stronger from this crisis, other sectors are likely to be more negatively impacted. In the fashion and beauty sectors in particular, more purchases are likely to be made on the web and through huge sales platforms such as eBay or Amazon, penalizing retailers who don’t have an online offering.
In the realm of clothing and cosmetics purchases, consumers actively seek out optimal bargains and promotional codes. For instance, a discount code like a discount code ebay UK can yield savings of up to 70% off the regular price. These offerings outshine the rates offered by local, physical retailers. This disparity underscores the popularity of deals such as the promo code Amazon UK.
Other already well-established consumer trends also seem to have been accentuated by the crisis, such as the consumption of films via streaming platforms (Netflix, Amazon Prime video…), to the detriment of cinemas. Unsurprisingly, tourism has also been affected, with a preference for local rather than long-distance travel.
The most anxious consumers
Another point highlighted by the survey, and again not really a surprise, is that the British appear to be the most anxious about the future, compared to consumers surveyed in other countries. 38% express anxiety about both health and the economy. What’s more, 18% of British consumers said they were worried about their finances, compared to 8% of those with the opposite concern.
It remains to be seen whether these statements and feelings will be confirmed in the months to come, depending in particular on developments in the financial situation. In any case, all the data from this survey once again highlights the importance for retailers to play the proximity card, but also the need to offer a parallel online offering.