Price ranks only fourth in the minds of Brits when selecting a store, according to a new study of more than 1,500 shoppers.
The survey by retail marketing company TCC Global found just 34% see everyday low prices as the key factor behind their choice of supermarket.
It meant it was placed behind location (48%), range of products and services (40%), and habit and familiarity (39%) with shoppers.
“Supermarkets have naturally focused on pricing as a tactic to regain the market share they have lost to hard discounters, in the process creating speculation around a so-called ‘price war’,” said TCC global insight director Bryan Roberts. “Virtually all competitors in the market have sharpened pricing to some extent, yet these results prove there could be reason to rethink this strategy, with price relatively low on shoppers’ priorities.
“We are already seeing a change in tack from some corners of the market. Aldi and Lidl have recognised how high demand for their services isn’t necessarily being reflected in their sales due to location issues, and as such are in the midst of an aggressive period of expansion. Aldi alone are on course to reach their target of 1,000 store openings by 2022 to win consumers who would like to use their stores but currently can’t physically reach them.”
With almost half of shoppers saying they ranked location as the most important factor in their choice of supermarket, just 3% said they would invest extra time to reach a preferred store.
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