Shopper confidence has dropped once again, following a mild lift over the last couple of months, according to the latest Shopper Confidence Index from IGD.
June saw shopper confidence drop 3 points to -24, lower than the previous lowest point of -23 in March 2022, reflecting increasing pessimism amongst shoppers this month. As saving money continues to takes priority, shoppers are placing less importance on other factors like quality.
June 2022 results
Source: IGD ShopperVista; base: 1,000+ shoppers June’22
- Net financial confidence is down 4 points
- All demographics saw drops in their overall confidence, with the most significant drops in those aged 45-54 (down from -23 to -30) and lower affluence groups
- Shoppers are now even more focused on saving money over quality, down from -18 in May to -20 in June
Rhian Thomas, Head of Shopper Insight at IGD ShopperVista, said: “The reality of the cost-of-living crisis appears to have hit home for shoppers this month, and that is reflected across their behaviour and sentiment.
“We anticipate shopping behaviour changes will accelerate as shoppers look to save as much money as they can, and being on top of those changes will be critical in the coming months.”
IGD subscribers can access the full Shopper Confidence Index report here.
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Notes to editors
- Source: IGD ShopperVista; base: 1000+ British shoppers, June 2022
- The IGD Shopper Confidence Index blends four key measures that relate directly to the food and consumer goods sector to calculate an overall indication of shopper confidence:
- Household finances: expect to be better or worse off
- Food prices: expect to get less or more expensive
- Focus on quality vs. saving money: future and current focus
- Trust in industry: across a range of measures
- These measures are combined, and the Index score is calculated. The index can vary from -100 to +100, where -100 is a very negative outlook and +100 a very positive outlook. It produces a monthly indication of GB shoppers’ food and grocery confidence, with trended data going back to 2013.
- The IGD Shopper Confidence Index will be updated each month with our latest data. Historical trend data is available back to 2013.
- For more information about the Index and its measures, please visit IGD ShopperVista
- IGD is an organisation of two interconnected communities. The profits from Commercial Insight are reinvested into Social Impact, which together work to drive change that makes a tangible difference for society, business and the individual.
Commercial Insight is delivered through six core areas:
a. Retail Analysis – providing trusted data and insight, straight from the heart of retail;
b. ShopperVista – providing insight that creates the foundation for progressive shopper and category thinking;
c. Events – providing compelling experiences that connect people and ideas together;
d. MarketTrack – the most trusted, rigorous market read in the retail sector;
e. Supply Chain Analysis – providing answers and unlocking potential;
f. Solutions – personalised solutions that address the critical customer and commercial challenges.
Social Impact from IGD is delivered in four key areas:
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