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Shoppers prioritising thoughtful spending amid economic pressures

By Rachel Douglass



Image: Unsplash

New research by American Express has highlighted shifting shopper priorities as rocketing economic pressures take hold on consumer spending.

In the credit card company’s report, British shoppers were found to increasingly be seeking a better value for money, quality and convenience, which the firm said can offer retailers new opportunities to drive engagement.

The survey questioned 2,000 UK consumers on their current shopping habits, in which 68 percent said they would like businesses to support them better by countering the incline in prices.

Over three quarters of respondents were found to be thinking more carefully about what they buy, with 23 percent looking for better deals over loyalty to a retailer and 71 percent stating that they actively searched for sale items when shopping.

The research also pointed to signs that retail could become even more competitive, as 52 percent of consumers said they were more likely to shop through loyalty schemes and 61 percent added that they believed retailers could do more in terms of rewards for shopping.

In terms of priorities, around 60 percent said a convenient shopping experience was at the top of their expectations, while 65 percent valued businesses that could accommodate last-minute purchases.

A similar percentage of shoppers also believed that they had seen a dip in quality or size of products in the last few months, as retailers tackle supply chain issues.

American Express
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