NEWS15 August 2022

Brands must do more to ease cost-of-living crisis

News Retail Trends UK

UK – More than two-thirds of UK consumers ( 67%) expect executive teams to take a pay cut, while 85% believe marketing spend should be cut to help ameliorate the cost-of-living crisis, according to research from consumer insights company Zappi.


The Zappi report shows how consumer spending habits are changing in the face of the cost-of-living crisis, with 75% of respondents saying they believe that brands should be reducing their profits to keep product prices under control.

The research is based on an online survey of 1,500 UK adults via the Zappi platform using a nationally representative sample. 

Of the respondents who are financially responsible for children, almost all ( 97%) are now purchasing supermarket own brand products while 80% rely on these products to make up more than half of their entire grocery shop.

Nearly half of consumers ( 49%) now admit to seeking out reduced price sticker products, a fifth ( 20%) are travelling further to a cheaper supermarket, and more than a third ( 34%) are changing supermarkets all together in a bid to make their budget go further. 

In addition, the research shows that nearly a third ( 32%) of UK consumers are buying fewer meat-based products and 39% are purchasing more frozen food.

“The reality of today’s world is that inflation is soaring, gas bills are hitting homes hard and consumers are being forced to change their ways of living to save money,” commented Zappi president Ryan Barry. 

“That doesn’t mean brands can’t do well or find ways to connect with audiences, but authenticity and empathy needs to be put at the heart of everything.

“As shoppers actively go out of their way to save money, brands must also go the extra mile to show how they can add value to people’s lives. Bridging the gap between what consumers expect today and brand purpose will determine long-term growth and success.”