The IPA’s survey of 2,000 adults last month, titled ‘Christmas Amidst the Crunch 2,’ included key insights such as:
- 64% of all UK adults will be cutting back on their spending compared to last year, due to the ongoing pressures of the cost of living.
- Nearly a quarter (24%) of all consumers stated that they will be reducing their spending on meals out, and almost a fifth (19%) will be reducing their visits to bars and clubs.
- Almost half of Brits (48%) stated that they will be using their savings to finance their expenses, a number that rises to 58% among those aged 18-24.
- 20% said they will be reducing their spending on premium brand groceries and drinks.
- 31% are more likely to shop with brands and retailers that prioritize sustainability, rising to 51% among the 18-34 age group.
The IPA’s senior insight manager, Jamie Britton, commented on the findings, saying “This survey reveals the true impact that the prolonged cost-of-living crisis, coupled with rising interest rates, is having on consumers’ spending plans. It is particularly significant here given that the Christmas season is known to be the season for giving. To navigate this tough environment, brands must pay attention to these consumer intentions and ensure they are gauging and appealing to the mood of the nation in both their advertising and their seasonal offerings.”
Last year, savi carried out similar research that found 42% of shoppers had changed their shopping behaviour due to the cost-of-living crisis, and that seasonal coupons have an important role to play. Our survey of 2,000 UK adults revealed that over one-third (34%) of shoppers would rely on coupons to fund their Christmas, and a quarter (26%) wanted to mainly receive mobile coupons in the run-up to the Christmas season.
Our research also found that 77% of shoppers are more likely to redeem a digital coupon, and that 43% had already redeemed a coupon on a mobile device. We also learned that shoppers want to use mobile coupons for simplicity (39%), convenience (32%), and environmental reasons (28%). This is why savi’s new mobile coupons are ideal for fulfilling all these criteria and providing brands and customers with a way to save money and remain loyal to their favourite products. Our mobile coupon campaigns are quick to set up, and easy to share with customers plus they provide invaluable customer data and insights.