Over half (53%) of Irish shoppers are using more vouchers and money-off coupons
Over half (53%) of Irish shoppers are using more vouchers and money-off coupons amid cost-of-living crisis, new research reveals.
New study from Talon in Ireland explores how Irish consumers are navigating new shopping behaviours during the cost-of-living crisis and how brands should plan their Out of Home (OOH) campaigns to reach them
Amid rising inflation, 53% of Irish shoppers admit that they are using more vouchers and money off coupons to do their shopping as 71% of Irish consumers say they are spending more on their weekly grocery shop than they were this time last year.
The data comes from a new consumer behaviour survey from Talon in Ireland, a leading independent Out of Home (OOH) media agency and was conducted by research partner Spark Market Research. The survey found that a third of respondents are spending €51 or more on their main weekly grocery shop, with most respondents (69%) shopping for 2-4 people in their households.
Moreover, spending is highest amongst shoppers between the ages of 45-54 (76%), with those aged between 25-34 spending the least (67%). The findings suggest that people in the older age cohort are the most financially secure and those in their late 20s and early 30s are feeling the pinch most.
A shift away from Brand Loyalty & the emerging trend of the Savvy Shopper
The study from Talon also reveals that Irish consumers are embracing discount retailers. 54% say they have already switched from their main grocery providers as the cost-of-living crisis bites. With this in mind, Ireland has become a nation of those who are willing to shop around with 63% admitting to shopping in 2-3 different grocery stores a week.
In a bid to cut back on spend, more than half (54%) of Irish shoppers surveyed admit to purchasing supermarket private-label items over brands, but those that do opt for brands are more likely to do so for alcohol (63%), hot and soft drinks (58%) and confectionery (47%) products.
One of the main highlights of the research is the emerging trend of savvy shoppers, who are focusing on planning their weekly shop. 63% of Irish shoppers surveyed say they make shopping lists – with 83% of those writing the list the day of or the day before they do their shop.
With Irish consumers being more selective about how they spend, it is an important time for advertisers to ensure they are planning their OOH advertising campaigns effectively to reach target audiences. Talon has highlighted some top tips to help brands and retailers navigate these new behaviours using Out of Home:
- Harness the right data – Clever use of data amplifies campaign relevance, transforming Digital Out of Home advertising into a real-time marketing platform. Using data, brands can target those hard-to-reach audiences (25-34s & 18-24s) hitting them with a value message – driving immediate engagement and boosting real-time conversion.
- Don’t be restrictive – People are exposed to a broad range of mediums every day. A strategically planned multi-format, multi-environment campaign maximises reach and ensures consumers are influenced at all stages of the consumer journey. Brands that include proximity targeting alongside broadcast awareness formats are more likely to be selected by consumers.
- Think about the journey – There is an opportunity for brands to steal share of mind in the planning phase, and capture consumers’ attention throughout the purchasing journey. Out of Home is a great medium for driving brand awareness through its ability to reach broad audiences, cost effectively.
Caroline Decourcy, Insights Director at Talon in Ireland, said: “Irish consumers are continuing to feel the pressure of the cost-of-living crisis, with many shifting their shopping habits as we become savvier and more selective in our spending. However, there are still ways for brands and retailers to reach consumers effectively. This can be particularly impactful through targeted Out-of-Home (OOH) advertising with value-based messaging that is driven by data insights to reach the right shoppers, at the right time in their purchasing journey and in the right environments.”