TrendSights Analysis: Bargain Hunting - The evolving pursuit of lower prices and better value
Bargain Hunting aligns with the Easy & Affordable in GlobalData’s TrendSights framework. The trend explores how frugality influences shopping behavior and product choices. Uncertainty over global and domestic economies, and rising costs of living, have pushed modern society towards more value-minded purchases, as consumers explore different strategies to save money while shopping.
The pursuit of bargains - and ultimately value for money - is an enduring but constantly evolving behavior that is influenced by a range of personal and societal sector-specific concerns and trends.
Single householders tend to take a more budget-minded approach while shopping as they consider price and promotions as key factors in determining choice across the main FMCG categories.
Bigger households prioritize value and quality, rather than solely focusing on low price. Consumers with family tend to have fewer out-of-home experiences, which leaves them more money to spend in the supermarket.
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