Over four in five people believe brands need to be transparent about any price increases while most feel more positive towards brands that help them find the best price, states a recent new research.
According to the findings of the latest wave of Alfresco Life research by Out of Home agency Kinetic Worldwide, 83 percent of shoppers believe brands need to be transparent about any price increases, 75 percent feel brands and adverts need to acknowledge that things are harder for some people financially, while a further 72 percent feel more positive towards brands that help them find the best price.
As the inflation in the country touches 40-year-high level, consumers are now looking to minimise the impact of price increases on their lives by exploring ways of smarter, savvier shopping.
According to Kinetic’s research, 39 percent consumers switch products and 31 percent look to plan their meals in advance to avoid food wastage.
Even after making changes in their spending habits, most shoppers believe that their spending on essentials as well as non-essentials will either remain the same or further increase.
Essential spending on purchases such as housing (71 percent), communications and TV (70 percent), groceries (65 percent) and fuel (58 percent) were all revealed to stay the same or set to increase in the coming months.
The majority of people surveyed also said they intend to maintain or increase spending on non-essential items too, such as kids’ toys/clothes (65 percent), charity (60 percent), beauty (59 percent), holidays (55 percent) and alcohol and gambling (54 percent).
However, a further 6 in 10 revealed they are better off or the same financially as they were this time last year, states the research.
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