Almost two-fifths (37%) of Brits are purchasing on a ‘need-to-buy’ basis to help limit their spend at the supermarket till, new data from Barclaycard has revealed.
According to the latest insights from Barclaycard’s monthly Consumer Spending Index, the average value of a supermarket transaction has dropped from £23.67 in January 2021 to £19.33 in July 2022, while the average number of monthly supermarket purchases per person increased from 8.70 to 11.91 over the same period.
Shoppers have been opting for smaller basket sizes, to help them keep track of their budget. Nearly two-fifths (37%) are purchasing certain items on a need-to-buy basis to save money and avoid waste, resulting in an emerging trend for smaller baskets and more frequent trips to the supermarket to restock when items run out.
Meanwhile, almost nine in 10 (89%) Brits report seeing increases in the prices of everyday items at the supermarket, with the majority noticing that butter (53%), milk (51%), and meat (47%) are more expensive than in June. As a result, 45% of shoppers report looking for ways to get more value from, or to reduce the cost of, their weekly shop.
What’s more, over half (52%) of this group are paying closer attention to the prices of items they buy regularly, and the same proportion (52%) are cutting down on luxuries or one-off treats for themselves. In addition, almost half (47%) have been opting for budget or own-brand goods over branded items.
Finally, after a surge in online shopping during the pandemic, consumers are increasingly returning to brick-and-mortar stores – perhaps in an effort to gain more control over their spending and “try before they buy” to avoid unnecessary purchases, the company has found. In-store shopping grew faster than online in July, with the value and volume of face-to-face transactions up 8.5% and 12.9% year-on-year respectively.
By comparison, online shopping saw a smaller 6.6% rise in the amount spent, and a -3.3% decline in the total number of transactions.
