3 min. reading

British Consumers are More Price-Conscious Than Ever—What Does This Mean for Retailers?

A recent study conducted by American Express with 2,000 shoppers indicates a change in how British consumers shop these days. The research shows that in today's times, a large majority of 77 percent of Brits are more focused than ever before on getting good value for their money. Additionally 71 percent of them are now actively hunting for items that are being sold at discounted prices.Notably, 68 percent of those surveyed think that stores should do more to help customers deal with the increasing prices.

Katarína Šimčíková Katarína Šimčíková
Freelance I Digital Marketing Specialist, Ecommerce Bridge EU
British Consumers are More Price-Conscious Than Ever—What Does This Mean for Retailers?
Source: Depositphotos

Shifting Customer Loyalty in British Retail

In today’s retail landscape, competition is fierce, with 23 percent of shoppers seeking out the bargains rather than sticking to their usual stores.

The importance of loyalty programs is growing evident with 52 percent of buyers expressing that they are inclined to patronize businesses that offer programs.

Moreover, a significant majority of 61 percent feel that retailers should step up their efforts in rewarding customers.

Key Shopping Priorities of British consumers

60 percent of those surveyed still consider convenience as important; 65 percent appreciate companies that can handle last-minute buys and guarantee delivery services.

The quality of products is being closely examined. 62 percent of Britons have observed a decrease in product quality or size recently.  47 Percent opt for purchasing fewer but higher-quality good

Daniel Edelman, from American Express, underscores the significance of retailers promptly adapting to evolving customer demands by prioritizing the delivery of top-notch customer experiences both in stores and on the internet.

“People’s shopping priorities are understandably changing rapidly in line with the times, with a bigger focus on value and closer eye on quality. It’s important that retailers, as always, stay close to their customers and react quickly in response to their changing needs. Offering a winning customer experience both in-store or online should also be front of mind as British consumers continue to prioritise convenience and ease when they shop.”

UK E-commerce Market

Source: Depositphotos

British Consumer Spending Habits

The study also found that 42 percent of British consumers still spend most of their money on vacations.

72 percent still think it’s crucial to treat themselves from time to time. It’s quite intriguing that 44 percent are open to sharing their information in return for a shopping experience.

This gives stores a chance to tailor offers and messages to individuals effectively.

What Does This Mean for Retailers?

1️⃣ Price Sensitivity Is at an All-Time High

  • Action: Offer competitive pricing, limited-time deals, and personalized discounts to attract budget-conscious buyers.

2️⃣ Loyalty Programs Are More Important Than Ever

  • Action: Strengthen loyalty programs with exclusive discounts, early access to sales, and personalized rewards.

3️⃣ Quality Matters, but So Does Convenience

  • Action: Focus on delivering consistent product quality while ensuring seamless, fast, and reliable shopping experiences (both online and offline).

4️⃣ Personalized Shopping Experiences Drive Engagement

  • Action: Use AI and data analytics to tailor promotions, recommend products, and enhance customer engagement.
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Katarína Šimčíková
Freelance I Digital Marketing Specialist, Ecommerce Bridge EU

Freelance Digital Marketing Specialist at Ecommerce Bridge with nearly a decade of experience in digital marketing, where I’ve specialised in managing international teams and building strategic partnerships. As former International Team Lead at Groupon, I managed teams across various European countries, handled KPI achievement, and worked daily with agencies in English. These days, I focus on content strategy, link building, and coordinating with international agencies in e-commerce expansion. What truly fulfils me is working with people and seeing everyone happy and satisfied with the results. I’m passionate about researching and writing about the latest trends in e-commerce and digital marketing, bringing fresh insights and industry news to our readers. I hold a Master’s degree in Mass Media Studies and completed international courses in London and Bristol.

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