As summer approaches, we’ve checked back in with consumers to find out about their current moods and mindsets. Still in the midst of a cost-of-living crisis, consumers have told us how they're adapting and the impact it's having on their purchase decisions.
Mood and mindset remain unchanged
Positivity has remained relatively unchanged since Christmas. Adults are still 2x more likely to be feeling more positive than negative about their own mental and physical health. Unsurprisingly, people are ranking the cost of living as the biggest concern right now, closely followed by energy prices and the UK economy. However, despite the squeeze, 67% of adults are either going on or planning to book a holiday over the next four months. There is a lot less anxiety about travelling overseas too, with adults feeling a lot more relaxed and excited about going abroad.
Concerns around the UK economy and the cost-of-living crisis have translated into how consumers are now spending. The price of products is as important as ever with 78% of adults looking out for special offers more than they used to and 81% now more conscious of prices than before. But it’s not all about price, trust is the second most important factor in making a purchasing decision, with 84% of adults agreeing it’s a consideration. With trust being such an important factor when it comes to purchasing, Out of Home is the ideal media for brands to reassure consumers. 40% of adults are more likely to trust advertising encountered in public (radio, TV, OOH) vs ads seen on private media (social media, online).
In-store shopping is still king
Physical stores remain important to shoppers, particularly when finances are stretched. 74% of UK adults are shopping in-store for clothing and even for those making a purchase online, in-store is often still part of the purchase journey (62% finding inspiration or researching in a store). With shoppers feeling like they can make better decisions (71%) and preferring to browse in person (72%), high streets and malls are essential environments for brands to have a presence.
Time for celebration
It's clear from the study that nothing will prevent us from celebrating upcoming events on the calendar. Over the next few months, we have a wealth of sport upon us. Fresh off their Euros win, England’s women are setting their sights on the World Cup and tennis stars return to Wimbledon’s Centre Court too. 1 in 3 consumers are planning to make a purchase for these occasions. This a great opportunity for brands to piggyback on the celebration of these events as 84% of UK adults think topical ads are more memorable than a traditional advert*.
Want to know more?
We’re checking in with Adults, 18-34s, Mainshoppers, ABC1s and Families at regular intervals throughout the year. We’ve lots of useful insight around all of them so get in touch to find out more, in the meantime make sure you check out the Audience Hub for a snapshot. We’ll be catching up with our audiences again in September, so please stop by again then!