15 July 2022

Has the soaring cost of living changed your shopping habits?

15 July 2022

Nearly six in 10 (59%) of us have changed the way we shop as living costs have surged, according to new research.

Price tracking and comparison website PriceRunner surveyed of more than 2,100 people across the UK in June, to find out just how much rising prices are affecting the nation’s shopping habits.

Of those whose shopping habits have changed, around seven in 10 (69%) say they’ve avoided buying certain items which are more expensive. Meanwhile, six in 10 (60%) say they try to buy as many discounted products as possible, while 57% have cut back on food.

In fact, there are several products people say they’ve bought less of due to the rising cost of living. Shoes and clothes were found to be the biggest cutback, followed by beauty products, with home decoration products rounding off the top three.

PriceRunner said women’s clothing prices increased between January and June (Dominic Lipinski/PA) (PA Archive)

Others say they’ve also cut back spending on hobbies, gadgets, perfume and furniture, with a smaller proportion reducing spending on children’s toys. Some people even say they’ve cut back on medicines, according to the research.

PriceRunner also analysed how some prices had changed between January and June, using its own data on thousands of products. It found the average price of shoes increased by 3% during this period. Women’s clothing prices increased by 5% and men’s by 3%.

Fragrances increased by 8% in price on average – but cosmetics overall decreased on average by 3%.

While we’ve often been trying to buy less, there are some cases where surging living costs have been pushing people to buy more items.

Some people surveyed say they’ve bought more books or children’s toys, for example, to keep families entertained at home. Some have also stocked up on more food and alcohol at home. “Many have likely been spending more time cooking at home rather than eating out, in order to save money,” notes Christine Gouldthorp, a consumer expert at PriceRunner.

Overall, nearly a quarter (23%) of those surveyed say rising energy bills have affected them a lot. More than half (51%) have tried to reduce their electricity use, while 41% have used less gas, and more than a third (37%) have used less petrol.

Looking ahead, further cutbacks may need to be made, as three in 10 (30%) people surveyed are very worried about the impact of global issues on their personal finances in future.

A package of Government support measures to help people with living costs, which includes a £400 grant to help households with energy bills, is being delivered to households in the coming months.

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