Shopfloor INSIGHT: RETAIL TRENDS 26


Cost of living crisis causing consumers to spend less cash on kit for their homes


Millennials spend less on new home electricals, new research shows


When purchasing new products, millennials – who are those aged 26 to 41 – are more likely to select the cheapest option over a superior alternative (45 per cent), whereas Gen X – those aged 45 to 54 – valued quality over price the most (59 per cent). However, despite this, four out of five of millennials do recognise that cost is directly linked to the quality of household electrical items such as kettles, microwaves and vacuum cleaners.


This is according to new research from BSI, the


business improvement, product testing and standards company. The study of 2,000 adults into how they prioritise cost and quality when shopping revealed a clear generational divide.


Gen Z adults – who are those aged 18 to 24 – were found to be less likely to consider the lifespan of a product when making their purchasing decision, in contrast to those aged between 55 and 64, who were more likely to avoid cutting costs by purchasing what they considered to be better quality products. However, younger generations are doing their


research – around three quarters of Gen Z adults said they don’t often make purchases without reading the fine print associated with the products and they are actively seeking information about a product’s quality. The research also highlighted that when purchasing an electrical appliance, one in four consumers said they would look for certification


logos, such as the BSI Kitemark, to ensure peace of mind around quality and safety. Natasha Bambridge, Global Director of Consumer Promise Practice at BSI, said that the worsening economic conditions meant that consumers everywhere are looking for ways to save money. “Everyone


appears to be adapting their


purchasing behaviours; no one likes wasting any money, especially now, so certain appliances are seen as long-term investments, even if they have to spend a little bit more in the short-term. And people want these products to last as they tend to rely on them day after day.


“Manufacturers and retailers can support consumers experiencing anxiety about value for money when purchasing new products by labelling their products correctly, presenting clear and helpful information, and also through displaying independent certification logos. These help provide that extra bit of confidence for the consumer that they are buying something they can trust.


“Kitemark certification from BSI indicates that


a product has undergone rigorous testing to vet its safety and quality and more and more products now carry the Kitemark, from traditional plugs and sockets and small appliances such as kettles, right through to home security cameras, smart doorbells and even sofas and mattresses.”


Younger generations are doing their research online


When considering a product’s lifespan, according to the survey results, value for money now trumps all other considerations, including environmental considerations. Only 21 per cent of the adults surveyed said they would consider a product’s lifespan and durability because it’s better for the environment as fewer broken or older appliances will get sent to landfills, versus 43 per cent of all adults who said that they consider its lifespan due to value for money. Interestingly, consumer purchasing habits also vary wildly between the UK’s regions. A net 68 per cent of Londoners said that they now buy cheaper items that they fully expect to last half as long as higher quality products, in order to cut costs. This is in comparison to only a net 42 per cent in the East Midlands and a net 34 per cent in the South West of England.


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