Consumers look to deals for festivities
A LARGER growth in shopping as we approach Christmas is now expected as more consumers aim for the best deal possible.
With Kantar data for the 12 weeks to 30 October revealing that grocery price inflation has now hit 14.7%, adding an additional £682 to consumers annual grocery bills, the market research firm said more consumers will look for the best deal on the run-up to Christmas.
Fraser McKevitt, head of retail and consumer insight at Kantar, said: “This time last year, two million consumers had already bought their festive Christmas pudding.
“We’ve seen 32% fewer shoppers doing that this time around, suggesting people are not trying to spread the cost of their purchasing – at least not in October.”
In the meantime, consumers still look for the cheapest option as Kantar reported that Aldi remained the fastest growing retailer during this period, increasing its sales by 22.7% compared with last year.
And consumers’ attitudes won’t be changing here, either, as NielsenIQ total till data found that shoppers will continue to hunt for these lower prices right up to Christmas Day. The market research firm reported 49% of shoppers said they expect to find special Christmas offers from supermarkets, with a discount on price the most preferred option.
Mike Watkins, UK head of retailer and business insight at NielsenIQ, said: “With all of the big four supermarkets either giving extra price reductions or adding weekly vouchers to their loyalty schemes, this may prove the catalyst to help grow sales this Christmas.”
