this potential economic crisis associated with, among others, inflation It’s already just as much of a problem for consumers as it was a few years ago. Pandemic: last barometer AECOCone of the most important associations in Spain in the field of Mass distribution (trade, supermarkets…), showing that almost half of households think their economic situation has deteriorated in recent months; this is a rate that has not been seen very high since 2020.
According to this report prepared in cooperation; 40dB Analysis Agency, 49%, almost 60% of consumers cite inflation as their main concern, followed by the economic crisis (40%) and energy prices (39.7%).
Because the latest data from the National Institute of Statistics (INE) shows that the increase in prices in general decreased slightly in October, and the increase in food products in particular continued: this month, Shopping cart It is 15.4% more expensive than last year and the difference is ten points more than recorded at the beginning of the year.
“The data in the report shows that current economic context profoundly influences the decisions of consumers who own it. higher price sensitivity Y further plan your purchases“In a statement summarizing the main results of the research, the organization adds, “In fact, 72% of consumers today prices and promotions It’s a record rising in 2022, which is already 14 points higher than the data a year ago,” says AECOC.
The white brand is growing
The organization has identified other changes in consumer behavior, such as the vast majority changing their behavior. supermarket or reference brands trying to reduce the cost of the shopping cart. Specifically, according to the report, 86% of respondents said they switched businesses because of this, while 88% said they replaced one of their usual brands with a cheaper one.
This situation is directly private label weight gain in the customer’s purchase. “A clear effect of this transfer between brands is the growth of the distribution brand,” AECOC adds, and concludes that six in ten consumers now include more products in this category in their purchases.