With the continuing cost of living crisis and inflation reaching its peak, the leading Out of Home infrastructure and media company, Clear Channel, has launched a new study focusing on consumer shopping behavior.

Based on a survey conducted with 2,000 respondents, it provides fascinating insights into the main ways the cost of living crisis has affected consumer purchasing behavior, how Britons prefer to buy groceries, key factors for product selection when buying groceries, and trends in impulse buying.

According to the Clear Channel report, 75% of people have had to change their shopping behavior due to the cost of living crisis. More than one in five reported cutting back on essentials.

Perhaps unsurprisingly, the report revealed that nearly half of shoppers (45%) are cutting back on luxury items and treats, while 38% are doing their best to avoid impulse purchases.

Other ways of adapting to the cost of living crisis include shopping at cheaper supermarkets (37%), switching from regular brands to own-label products (35%), and shopping less frequently to avoid overspending (26%). Only 13% of Britons have not had to adjust their spending due to financial insecurity.

Clear Channel's research also showed that 96% of Britons prefer to shop in-store rather than online. Surprisingly, 16-24-year-olds behave more like boomers than millennials when it comes to shopping behavior, with 59% stating a preference for shopping in person over online—the same preference as their boomer counterparts.

When it comes to the main reasons why British consumers prefer shopping in-store, the ability to immediately assess the quality of a product (63%) plays a key role.

The immediate availability of the product (53%) and the opportunity to get better deals (43%) round out the top three main reasons for shopping in person. Nearly one in three considers it more likely to discover new products, while 25% of Britons value the in-store customer experience.

The main findings of the survey are as follows:

- 96% of European consumers shop in-store, with 45% preferring to shop exclusively in-store, 8% exclusively online, and 46% shopping both in-store and online.

- Key drivers for product selection are discounts (65%), the cheapest price on the market (37%), and products from a well-established brand (27%).

- One in ten Britons make impulse purchases every time they shop.

- Food (55%), clothing (29%), beverages (25%), packaged goods (24%), and household items (23%) are the main categories of impulse purchases.

- The top categories of impulse purchases for men are food (55%), beverages (31%), and packaged goods (24%), while for women, they are food (54%), clothing (35%), and household items (26%).

In this regard, Ben Hope, Marketing Director at Clear Channel, stated:

"In light of the ongoing economic uncertainty and its impact on consumers, we sought to conduct a study to better understand buying behavior. The potential to communicate brand messages through in-store and out-of-home advertising is still as relevant as ever, as shoppers refuse to compromise on the experience they have when shopping in-store, even if their aim is to spend a little less. What might surprise many is the trend of the younger generation aged 16-24 towards the physical in-person experience." (Photo: Freepik)