Two-thirds of Scottish consumers are having to reduce their spending to pay their bills, according to new research from digital and data consultancy TWC and the Scottish Wholesale Association (SWA).
The TWC Trends research shows that 66% of Scottish consumers agreed that they were having to reduce their spending to pay their bills, with consumers aged 35-54 and households with children most likely to be feeling the pinch. Scottish consumers were also more likely to agree with this statement than those living in other regions of the UK.
The research shows the top tactic for reducing grocery and discretionary spending was reducing treats (63%), followed by trading down by buying cheaper groceries was next (57%). Overall, 81% of Scottish consumers were using one or more tactics to reduce their grocery spending.
In addition, 58% of consumers said they are reducing the frequency of eating out occasions, a quarter are spending less when eating out, and almost half of consumers are having fewer takeaways.
Colin Smith, Chief Executive, SWA, said: “Scotland has always had different consumer purchasing habits and trading patterns to the rest of the UK. It’s important that SWA, as the industry trade body for wholesale, continues to help our members and the sector understand what’s happening in the trade and with wider consumer behaviour.
“Working with TWC this research will help wholesalers look at where they should be focusing their efforts, looking at stock ranges and price points and how they assist the end-users adapt to the evident change in consumer purchasing habits”.
A full update of the Scottish research findings will be presented at a SWA ‘Scottish Cost of Living Breakfast Briefing’ webinar on 18 August, 9am-9.30am. Registration can be made on the Scottishwholesale.co.uk website.