Rising Prices Prompt UK Customers to Cut Back on Fast Food, Urging Brands to Address Affordability Concerns
LONDON, UNITED KINGDOM, June 19, 2023/EINPresswire.com/ — A recent survey by Zinklar, a market research company, shows that UK customers are cutting back on fast food. 63% of respondents, equivalent to 67% of clients, have either reduced their visits or stopped going altogether.
The main reason cited by 54% of respondents is the high prices, which make it unaffordable for them to enjoy their favorite fast food. Another 24% mentioned a decrease in purchasing power as a factor.
The survey also revealed that 67% of British individuals are uncertain about handling future price increases. Surprisingly, 40% of them said they would prefer fast food brands to lower product quality in order to keep prices down.
The reduction in consumption is affecting specific categories within fast food establishments, including ice cream and desserts, sweets and breakfast items, and chocolates and bonbons, which are experiencing decreased customer demand.
Consumer behavior has shifted significantly in the past year, with 57% of British consumers prioritizing price as the main factor in their shopping decisions. Affordability is becoming increasingly important in shaping consumer preferences.
This research highlights the impact of rising prices on consumer behavior and urges fast food brands to address affordability concerns and come up with innovative strategies to attract and retain customers.
To summarize, the Zinklar survey reveals that rising prices and affordability concerns are causing UK customers to reduce their fast food consumption. With many expressing worries about future price increases, fast food brands have an opportunity to meet changing consumer needs by offering more affordable options without compromising quality. By adapting to these preferences, the fast food industry can navigate the evolving landscape and ensure ongoing customer satisfaction.
About Zinklar
Zinklar is an insights and market research company specializing in providing data-driven solutions to businesses across various industries. With a team of experienced researchers and analysts, Zinklar delivers comprehensive market insights that help organizations adapt and succeed in dynamic market environments.
Learn more about Zinklar this research please visit www.zinklar.com/reports/uk-spending-habits-in-food-and-beverage/ and put the voice of consumers at the center of your decisions.
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Andrea Camacho
Zinklar
+34 657 07 21 51
email us here
Rajneesh Singh is a journalist at Asian News, specializing in entertainment, culture, international affairs, and financial technology. With a keen eye for the latest trends and developments, he delivers fresh, insightful perspectives to his audience. Rajneesh’s passion for storytelling and thorough reporting has established him as a trusted voice in the industry.
