UK shoppers ‘switch to lower priced brands’ amid rising prices

British consumers are switching to different brands and changing their preferred retailers amid rising inflation, a new McKinsey survey has found.

The study reveals that 64 per cent of UK shoppers have changed their shopping behaviour in the past four to six weeks.

The research comes as the UK faces a cost-of-living crisis and sales figures running at historically high levels

According to the report, 34 per cent of Brits have tried a private label or store, 32 per cent have switched to a different brand than normal, 28 per cent have shopped at a different retailer, and 15 per cent said they have shopped from a different website than normal during the same period.

A further 38 per cent plan to change their shopping activities in the next month to six weeks.

The research found that when shopping for groceries, a large proportion of consumers in the UK are trading down.

Household products saw the highest difference, with 74 per cent saying they have switched to a private label or lower cost brand.

Snacks & confectionery, frozen food, bread and bakery all saw 70 per cent of consumers choosing a cheaper or private brand.

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