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Pricing and Promotions in UK Food and Drink Market

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The potential danger entailed by supermarkets purely focusing on price is that consumers could develop a level of apathy towards such pricing strategies. More than a third of consumers agree that ‘Price matching removes the need to think about price when grocery shopping’, indicating that price matching no longer serves to differentiate a supermarket brand in the eyes of a minority of consumers. This highlights the need for the grocers to step up their game in other areas to ensure standout, including reassuring shoppers of their quality credentials as part of the value-for-money proposition, and exploring wider themes in advertising.
 Some questions answered in this report include:
 What pricing and promotional mechanics appeal most to consumers?
 Has price matching levelled the competition in the retail market?
 Can the operators benefit from consumer confusion on pricing and promotions, as implied by the media?
 Are concerns over waste a deterrent to uptake of promotions?
 Key chapters of the report :
 Go to section
 Executive Summary
 Market factors
 Consumer spending remains under pressure
 Food prices remain high
 Growth in lower socio-economic groups means that price will remain a key consideration
 Companies, brands and innovation
 NPD focuses on economy lines
 Figure 1: Trends in economy and premium claims, as a percentage of all UK food market and non-alcoholic product launches, 2009-12
 Price/brand matching gains momentum
 Supermarkets cut expenditure while Aldi increases adspend
 The consumer
 Multibuys typically used by more than seven in ten
 Figure 2: Promotions typically taken advantage of, February 2013
 Consumers rate ‘free’ promotions over ‘save’ and multibuys
 Figure 3: Preferred promotional deals on selected products, February 2013
 Promotions fuel purchasing for majority of consumers
 Figure 4: Attitudes towards promotions on food and non-alcoholic drink, February 2013
 More than seven in ten love the thrill of a bargain
 Figure 5: Attitudes towards the price of food and non-alcoholic drink, February 2013
 What we think
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