Ipsos investigated how the consumer manages their shopping spending in response to price increases.
Accordingly, the share of discount markets in fast-moving consumer goods (HTU) expenditures has obviously increased as households search for affordable items. While households made 31 TL of every 100 TL HTU expenditure in 2021, the share allocated to this channel increased to 34 in 2022.
Consumers, who take different actions to manage price increases, wander around the market to find cheap products. One out of every two consumers said that they are looking for a cheap market, and they prefer the cheapest or the brands that are on sale instead of the brands they always use.
Increased demand for discount markets
Discount markets, other low price policy, their own brand in the range of products they offer to their customers. under The low-priced product options it produced made it easier for discount markets to follow the rules they set in price competition. Discount markets have been the most preferred channel with the highest sales in the last year.
One in two consumers prefer grocery brands
Individuals often decide whether to buy the work by valuing its price, and even the preliminary evaluation of the benefit to be obtained from the work, by looking at its price. In order to manage expenditures more actively; While doing price research in shopping has become a general behavior of consumers, market brands have become the preference of both consumers.
“More price research is being done”
Sidar Gedik, Turkey CEO of Ipsos, said, “We continue to do more price research, we go to discount markets more, we prefer market branded products more. Market branded works are mostly sold by discount markets, but in the last 2 years, we see that these works have grown above the average in national supermarket chains.
Especially in meat and meat products, oils, dairy products, body care products, the share increase of market branded products is higher.”