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Budget Shopper - UK - April 2011

Out of the economic uncertainty rises the smart shopper, one that is well informed and more thoughtful when it comes to making purchases. Research for this report has found that budgeting is common practice amongst the majority of adults; even those that do not budget still keep a track of their spending. Whether out of necessity or more just as a rewarding pastime, the thrill of bagging a bargain is apparent. People are looking for value without sacrificing quality, however, as the austerity measures continue to tighten their grip, will shoppers be forced to shift their focus more to cost alone?

The new mobile shopping culture heralds a major change on the high street; people are equipped with a wealth of information at their fingertips enabling in-aisle price comparisons, access to product information and opportunities to purchase. Mobile phone technology provides further opportunities for retailers to engage with people but also demands a greater need for price transparency and flexibility where possible.

For the purpose of this report the term ‘Budget Shopper’ is defined as someone who has a budget or who looks to purchase the cheap or basic ranges of shopping for whatever reason.

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Table of contents

  1. Introduction

      • Methodology
        • Abbreviations
          • Definition
          • Executive Summary

              • What is it all about?
                • Consumer confidence
                  • Figure 1: Deviation of the index of consumer confidence from the average, January 1990-January 2011
                • Emotional response to brands
                  • Figure 2: Emotional response to brands, by budgeting habits, February 2011
                • Savvy shoppers plan spending
                  • Figure 3: Repertoire of number of things people do to make money go further, February 2011
                • Brag a bargain
                  • Figure 4: Agreement with attitudes towards brands and bargains, February 2011
                • Outlook
                • Future Opportunities

                  • Smart move
                    • Helping hands
                      • Brand question
                        • Vouching for value
                          • Well informed
                            • Appy shopping
                            • Broader Market Environment

                              • Key points
                                • Demographic profile
                                  • Figure 5: Demographic trends table, by gender and age, 2005-15
                                • Consumer confidence knocked
                                  • Figure 6: Deviation of the index of consumer confidence from the average, January 1990-January 2011
                                  • Figure 7: Relative consumer confidence and real household spending (seasonally adjusted), Q1 1990-Q4 2010
                                • Employment market remains uncertain
                                  • Figure 8: Unemployment rate in the UK (all: aged 16+) seasonally adjusted, January 1988-November 2010
                                  • Figure 9: Employment and unemployment, by gender, 2005-15
                                • Savings return
                                  • Figure 10: Consumer savings ratio, Q1 1987-Q3 2010
                                • Continued austerity measures
                                  • Figure 11: Consumer savings, at current and constant 2005 prices, 2005-15
                                • Interest rates drop
                                  • Figure 12: Average UK base rates and UK inflation*, January 1989-January 2011
                                  • Figure 13: Consumer Price Index, January 1988-January 2011
                              • Consumer Financial Health

                                • Key points
                                  • Six in ten are managing OK
                                    • Figure 14: The impact of the recession, February 2011
                                  • Saving in the shops
                                    • Figure 15: Current financial situation, by household tenure, February 2011
                                  • Mortgagees feel the pinch
                                    • Today’s OK and outlook is fine
                                        • Figure 16: General financial situation, February 2011
                                      • Good times for the retired
                                      • Consumer Budgeting Habits

                                        • Key points
                                          • Budgeting for most
                                              • Figure 17: Budgeting habits, February 2011
                                            • Affluent budget but overspend
                                              • Everyone loves a bargain
                                                • Figure 18: Attitudes towards spending money, by budgeting habits, February 2011
                                              • Sophisticated non-budgeters
                                                • Figure 19: Ways to make money go further, by budgeting habits, February 2011
                                              • Brand-conscious budgeters
                                                • Figure 20: Emotional response to brands, by budgeting habits, February 2011
                                              • It’s getting tighter
                                                • Figure 21: Current financial situation, by budgeting habits, February 2011
                                              • Getting into trouble
                                                • Figure 22: General financial situation at the moment, by budgeting habits, February 2011
                                              • Recessionary effects
                                                • Figure 23: The impact of the recession, by budgeting habits, February 2011
                                                • Figure 24: The impact of the recession, by budgeting habits, February 2011
                                                • Figure 25: General financial situation over the next year or so, by budgeting habits, February 2011
                                              • Future focus
                                                • Figure 26: General financial situation over the next year or so, by budgeting habits, February 2011
                                            • Quality vs Value

                                              • Key points
                                                • We want value but we also want quality
                                                  • Figure 27: Importance of quality vs value, by product type, February 2011
                                                • Big-ticket quality
                                                  • Men unconcerned by cost
                                                    • Jean jeanie
                                                      • Premium and value side by side
                                                        • Cheapest but not the most popular
                                                          • Figure 28: Repertoire of cheapest products regardless of quality, February 2011
                                                        • Multiple mid-range purchases
                                                          • Figure 29: Repertoire of mid-range products on quality and price, February 2011
                                                        • Highest quality not every day
                                                          • Figure 30: Repertoire of highest-quality products regardless of cost, February 2011
                                                      • Attitudes towards Spending

                                                        • Key points
                                                          • Smart shoppers
                                                            • Figure 31: Attitudes towards spending money, February 2011
                                                          • Delayed purchase
                                                            • Young and free
                                                              • Making the money go further
                                                                • Figure 32: Ways to make money go further, February 2011
                                                              • False economy?
                                                                • The role of price comparisons
                                                                  • Who controls the purse strings?
                                                                    • Women more resourceful at making money go further
                                                                      • Figure 33: Repertoire of number of things people do to make money go further, February 2011
                                                                    • Frugal times
                                                                      • Figure 34: Trends in agreement with selected lifestyle statements on shopping, 2006-10
                                                                    • Loyalty remains
                                                                    • Emotional Response to Brands and Retailers

                                                                      • Key points
                                                                        • Feel-good bargains
                                                                          • Figure 35: Emotional response to brands, February 2011
                                                                        • Brand young
                                                                          • Getting what you pay for
                                                                            • Not so valued
                                                                              • Ethical choices
                                                                                • How low can you go?
                                                                                  • Feeling happy
                                                                                    • Figure 36: Attitudes towards selected retailers, February 2011
                                                                                  • Convenience sells
                                                                                    • Figure 37: Attitudes towards selected retailers, February 2011
                                                                                    • Figure 38: Attitudes towards selected retailers, February 2011
                                                                                    • Figure 39: Attitudes towards selected retailers, February 2011
                                                                                    • Figure 40: Attitudes towards selected retailers, February 2011
                                                                                • Target Groups

                                                                                  • Key points
                                                                                    • Figure 41: Budget shopper consumer target groups, February 2011
                                                                                  • Indifferent
                                                                                    • Who are they?
                                                                                      • Targeting opportunities
                                                                                        • Survival Budgeters
                                                                                          • Who are they?
                                                                                            • Targeting opportunities
                                                                                              • Smart Shoppers
                                                                                                • Who are they?
                                                                                                  • Targeting opportunities
                                                                                                    • Yo-Yo Budgeters
                                                                                                      • Who are they?
                                                                                                        • Targeting opportunities
                                                                                                        • Appendix – Consumer Financial Health

                                                                                                            • Figure 42: Profile of the impact of the recession, by demographics, February 2011
                                                                                                            • Figure 43: Profile of most popular current financial situation, by demographics, February 2011
                                                                                                            • Figure 44: Profile of next most popular current financial situation, by demographics, February 2011
                                                                                                            • Figure 45: Profile of current general financial situation, by demographics, February 2011
                                                                                                            • Figure 46: Profile of future (next year or so) general financial situation, by demographics, February 2011
                                                                                                        • Appendix – Consumer Budgeting Habits

                                                                                                            • Figure 47: Attitudes towards spending money, by budgeting habits, February 2011
                                                                                                            • Figure 48: Attitudes towards spending money, by budgeting habits, February 2011
                                                                                                            • Figure 49: Ways to make money go further, by budgeting habits, February 2011
                                                                                                            • Figure 50: Emotional response to brands, by budgeting habits, February 2011
                                                                                                            • Figure 51: Current financial situation, by budgeting habits, February 2011
                                                                                                            • Figure 52: General financial situation at the moment, by budgeting habits, February 2011
                                                                                                            • Figure 53: Profile of budgeters and non budgeters, by demographics, February 2011
                                                                                                            • Figure 54: Profile of most popular budgeting habits, by demographics, February 2011
                                                                                                            • Figure 55: Profile of next most popular budgeting habits, by demographics, February 2011
                                                                                                        • Appendix – Quality vs Value

                                                                                                            • Figure 56: Profile of importance of quality vs value for shower gel/body wash, by demographics, February 2011
                                                                                                            • Figure 57: Profile of importance of quality vs value for meat, by demographics, February 2011
                                                                                                            • Figure 58: Profile of importance of quality vs value for TV, by demographics, February 2011
                                                                                                            • Figure 59: Profile of importance of quality vs value for restaurant meal, by demographics, February 2011
                                                                                                            • Figure 60: Profile of importance of quality vs value for orange juice, by demographics, February 2011
                                                                                                            • Figure 61: Profile of importance of quality vs value for jeans, by demographics, February 2011
                                                                                                            • Figure 62: Profile of importance of quality vs value for pizza, by demographics, February 2011
                                                                                                            • Figure 63: Profile of importance of quality vs value for hotel room/reservation, by demographics, February 2011
                                                                                                            • Figure 64: Profile of importance of quality vs value for car, by demographics, February 2011
                                                                                                            • Figure 65: Profile of importance of quality vs value for wine, by demographics, February 2011
                                                                                                            • Figure 66: Profile of importance of quality vs value for theatre/musical/opera tickets, by demographics, February 2011
                                                                                                            • Figure 67: Profile of importance of quality vs value for pet food, by demographics, February 2011
                                                                                                            • Figure 68: Profile of repertoire of cheapest products regardless of quality, by demographics, February 2011
                                                                                                            • Figure 69: Profile of repertoire of mid-range products on quality and price, by demographics, February 2011
                                                                                                            • Figure 70: Profile of repertoire of highest-quality products regardless of cost, by demographics, February 2011
                                                                                                        • Appendix – Attitudes towards Spending

                                                                                                            • Figure 71: Trends in agreement with selected lifestyle statements on shopping, 2006-10
                                                                                                            • Figure 72: Agreement with selected lifestyle statements on shopping, by demographics, 2010
                                                                                                            • Figure 73: Agreement with selected lifestyle statements on shopping, by demographics, 2010
                                                                                                            • Figure 74: Profile of agreement with the statement ‘I wait for special offers/sales/promotions to buy the products/brands I want’, by demographics, February 2011
                                                                                                            • Figure 75: Profile of agreement with the statement ‘I have cut back on some things so that I can keep buying my favourite products’, by demographics, February 2011
                                                                                                            • Figure 76: Profile of agreement with the statement ‘I tend to spend money without thinking’, by demographics, February 2011
                                                                                                            • Figure 77: Profile of agreement with the statement ‘I carefully account for all my spending’, by demographics, February 2011
                                                                                                            • Figure 78: Profile of agreement with the statement ‘I buy what I want regardless of price’, by demographics, February 2011
                                                                                                            • Figure 79: Profile of agreement with the statement ‘I only buy products as a replacement’, by demographics, February 2011
                                                                                                            • Figure 80: Profile of agreement with the statement ‘I don’t like paying full price for anything’, by demographics, February 2011
                                                                                                            • Figure 81: Profile of agreement with the statement ‘I make a shopping list and stick to it when doing my grocery shopping’, by demographics, February 2011
                                                                                                            • Figure 82: Profile of agreement with the statement ‘I delay buying some things until after payday’, by demographics, February 2011
                                                                                                            • Figure 83: Profile of agreement with the statement ‘I am less budget-conscious after I have just been paid’, by demographics, February 2011
                                                                                                            • Figure 84: Profile of agreement with the statement ‘I find ways to justify any overspending’, by demographics, February 2011
                                                                                                            • Figure 85: Profile of most popular ways to make money go further, by demographics, February 2011
                                                                                                            • Figure 86: Profile of next most popular ways to make money go further, by demographics, February 2011
                                                                                                            • Figure 87: Profile of other ways to make money go further, by demographics, February 2011
                                                                                                            • Figure 88: Profile of repertoire of number of things people do to make money go further, by demographics, February 2011
                                                                                                        • Appendix – Emotional Response to Brands and Retailers

                                                                                                            • Figure 89: Profile of agreement with the statement ‘Buying well-known brands makes me feel good about myself’, by demographics, February 2011
                                                                                                            • Figure 90: Profile of agreement with the statement ‘You get what you pay for’, by demographics, February 2011
                                                                                                            • Figure 91: Profile of agreement with the statement ‘It makes me feel better if the food products I buy are organic or fair trade’, by demographics, February 2011
                                                                                                            • Figure 92: Profile of agreement with the statement ‘Low price is more important to me than brand names’, by demographics, February 2011
                                                                                                            • Figure 93: Profile of agreement with the statement ‘I hide the fact that I buy value products’, by demographics, February 2011
                                                                                                            • Figure 94: Profile of agreement with the statement ‘I love the thrill of getting a bargain’, by demographics, February 2011
                                                                                                            • Figure 95: Profile of agreement with the statement ‘I am proud to tell my friends about any good bargains I find’, by demographics, February 2011
                                                                                                            • Figure 96: Profile of agreement with the statement ‘It is a good feeling to know I spent less than others on the same/similar products’, by demographics, February 2011
                                                                                                            • Figure 97: Profile of most popular neutral/sad attitudes towards selected retailers, by demographics, February 2011
                                                                                                            • Figure 98: Profile of next most popular neutral/sad attitudes towards selected retailers, by demographics, February 2011
                                                                                                            • Figure 99: Profile of other neutral/sad attitudes towards selected retailers, by demographics, February 2011
                                                                                                            • Figure 100: Profile of happy attitudes towards selected retailers, by demographics, February 2011
                                                                                                            • Figure 101: Profile of other happy attitudes towards selected retailers, by demographics, February 2011
                                                                                                            • Figure 102: Profile of other happy attitudes towards selected retailers, by demographics, February 2011
                                                                                                            • Figure 103: Profile of other happy attitudes towards selected retailers, by demographics, February 2011
                                                                                                            • Figure 104: Profile of other happy attitudes towards selected retailers, by demographics, February 2011
                                                                                                        • Appendix – Target Groups

                                                                                                            • Figure 105: Target groups, by demographics, February 2011
                                                                                                            • Figure 106: Attitudes towards spending money, by target groups, February 2011
                                                                                                            • Figure 107: Budgeting habits, by target groups, February 2011
                                                                                                            • Figure 108: Importance of quality vs value, by product type, by target groups, February 2011
                                                                                                            • Figure 109: Repertoire of cheapest products regardless of quality, by target groups, February 2011
                                                                                                            • Figure 110: Repertoire of mid-range products on quality and price, by target groups, February 2011
                                                                                                            • Figure 111: Repertoire of highest-quality products regardless of cost, by target groups, February 2011
                                                                                                            • Figure 112: Ways to make money go further, by target groups, February 2011
                                                                                                            • Figure 113: Repertoire of number of things people do to make money go further, by target groups, February 2011
                                                                                                            • Figure 114: Emotional response to brands, by target groups, February 2011
                                                                                                            • Figure 115: Current financial situation, by target groups, February 2011
                                                                                                            • Figure 116: General financial situation at the moment, by target groups, February 2011
                                                                                                            • Figure 117: The impact of the recession, by target groups, February 2011
                                                                                                            • Figure 118: General financial situation over the next year or so, by target groups, February 2011

                                                                                                        Companies Covered

                                                                                                        • Aldi Stores Ltd (UK & Ireland)
                                                                                                        • Alliance Boots
                                                                                                        • Asda Group Ltd
                                                                                                        • Bank of England
                                                                                                        • Co-operative Group
                                                                                                        • Debenhams Total (GTV)
                                                                                                        • Facebook, Inc.
                                                                                                        • Gourmet Burger Kitchen
                                                                                                        • Government Actuary's Department (GAD)
                                                                                                        • H&M Hennes & Mauritz
                                                                                                        • Iceland Foods Ltd
                                                                                                        • J. Sainsbury
                                                                                                        • JD Sports Fashion plc
                                                                                                        • John Lewis Plc (department store)
                                                                                                        • Kantar Media
                                                                                                        • Lidl (UK)
                                                                                                        • Marks & Spencer
                                                                                                        • Matalan Ltd
                                                                                                        • Peacock Group
                                                                                                        • PizzaExpress Limited
                                                                                                        • Primark Stores Ltd
                                                                                                        • Ralph Lauren Ltd
                                                                                                        • River Island Clothing Co Ltd
                                                                                                        • Stella McCartney
                                                                                                        • Ted Baker
                                                                                                        • Tesco Plc
                                                                                                        • The TJX Companies
                                                                                                        • Topman old
                                                                                                        • Topshop old
                                                                                                        • Waitrose
                                                                                                        • Wm Morrison Supermarkets

                                                                                                        Budget Shopper - UK - April 2011

                                                                                                        £1,995.00 (Excl.Tax)