Unwrapping Consumer Insights: Christmas & The Cost of Living Crisis
As the festive season approaches, our recent survey from members of our consumer research panel, The Taste Collective, provides a snapshot of how UK consumers are adapting their traditions in the face of the ongoing cost of living crisis.
Despite economic pressures, the majority are committed to maintaining the joy of festive dining out experiences.
The survey reveals insightful details about Christmas dining preferences, showcasing that restaurants remain the top choice for festive meals, closely followed by Christmas markets and pubs. Unpacking the reasons behind the 25% not opting for dining out unveils a predominant concern – high costs.
Shifting our focus to Christmas shopping trends, the majority (75%) are planning to shop in the same way, with minor changes. However, the nuances in their responses illustrate a thoughtful approach to managing their budget. From spending less and altering shopping locations, to changing the types of items purchased, consumers are navigating the cost of living crisis strategically.
40% of survey respondents are buying cheaper items this year
For those spending less, the focus is on buying cheaper items, while those shopping elsewhere are making the switch to more budget-friendly supermarkets. The reasons for buying different items vary, from embracing changing dietary requirements, to seeking a different Christmas experience.
31% of survey respondents are switching to a cheaper supermarket for their Christmas shop this year
In conclusion, our survey illuminates how consumers are resiliently navigating the cost of living crisis, making thoughtful adjustments in both dining and shopping habits to ensure a festive yet financially mindful holiday season.
If you’d like to explore these findings with us further, or find out more about our consumer market research service, please get in touch here or email firstname.lastname@example.org.