Some 54 per cent of Brits said that price discounts via loyalty cards were most likely to encourage them to buy a product as the cost of living crisis spurs shoppers to hunt for the best bargains.
According to data by NIQ, a further 35 per cent of consumers said that a ‘special price discount’ for loyalty card holders would encourage them to buy a product.
Moreover, some 44 per cent of Brits agree that retailer vouchers and coupons are important in determining where they shop. This rises to 55 per cent when speaking to those “severely impacted” by the increased cost of living crisis.
“Our recent survey indicates that during a period of high inflation, shoppers are looking for different ways to save money and loyalty card savings are a ‘win-win’ strategy as they reward both shoppers and retailers,” Mike Watkins, NIQ’s UK head of retailer and business insight, said.
It comes as chemist Boots revealed that last week the number of people signing up to its advantage card, which allows customers to purchase products at a discounted price, soared to 15.8m.
The findings continue to highlight consumers changing attitudes to shopping with grocery inflation now hitting a 15 per cent high.
NIQ data also showed that in the last four weeks ending 25 March, volume sales across the ‘Big Four’ grocers such as Tesco and Sainsbury’s fell 3.9 per cent.
Last week, figures by Kantar showed that sales in the German supermarket Aldi rose 25.8 per cent in the four weeks leading to 19 March and it achieved a market share of 7.4 per cent.
Watkins added: “Whilst inflation greatly influences shopping behaviour, there is an expectation that we will hit ‘peak inflation’ in the new couple of months. If this happens, the big supermarkets are well placed to fulfil new and different mission-based shopping trips.”