More than half of UK consumers have switched to cheaper brands, and 45 per cent are delaying non-essential purchases, according to a recent study.
Inflation continues to impact household budgets and shoppers are making significant changes to their buying habits, with affordability and trust driving purchasing decisions. A recent study of over 8,000 global consumers shows that UK shoppers’ spending habits are shifting with more of a focus on value and trust-driven consumption.
Authenticity is key, as 57 per cent of UK shoppers cite real customer reviews as the biggest factor in their final purchase decisions. Consumers trust content that includes detailed product descriptions (33 per cent), real life photos/videos (37 per cent), and balanced feedback (36 per cent).
Social media also has a growing influence on shopping decisions; a third of UK consumers said social media introduced them to new products, while 28 per cent use it to compare prices and products. Honesty remains paramount – more than half of respondents distrust creator content that feels overly promotional, and 42 per cent said authenticity comes from creators who acknowledge a product’s pros and cons.
This data comes from the third annual Shopper Preference Report from Bazaarvoice Inc, provider of full-funnel authentic user-generated content (UGC) and social commerce solutions.
The survey also revealed that store brands are gaining traction amid economic pressure; lower prices remain the biggest factor (77 per cent), but improved product quality is also helping store brands earn consumer loyalty.
“As economic uncertainty continues, consumers are making more informed, strategic choices,” said Zarina Lam Stanford, Chief Marketing Officer at Bazaarvoice. “Brands and retailers that focus on affordability, trust, and authentic engagement – particularly through user-generated content – will be best positioned to meet evolving consumer expectations.”
