“Pound stores” will remain popular with shoppers even after their personal finances improve, new research has found.
A study published today by YouGov says that these thriving value stores have built up loyalty amongst consumers who like a bargain, and that supermarkets will need to work hard on certain categories if they are to rebuild share.
YouGov says that financial hardship is not necessarily what drives consumers to shop in pound stores either, as they attract shoppers from all walks of life.
The research found that 32% of adults had shopped at a pound store in the last three months. Cleaning products are the most popular purchases, bought by 21% of respondents, followed by toiletries, 18%, chocolate and sweets, 17%, and snacks and crisps, 13%.
People mainly shop in pound stores to save money, this being especially so for women and older shoppers: 67% of women and 66% of people 55 and older choose these stores for the savings.
YouGov’s research also knocks on the head the idea that pound stores appeal mainly to the C2DE social grades, finding that the professional ABC1s are just as likely to shop there.
Says YouGov consulting director Rob Cushen: “Our research suggests shoppers aren’t simply planning to head back to supermarkets when the financial situation improves: 74% of respondents who bought something from a pound store in the last three months say they will continue shopping there even if the economy improves.
“What this means is that the deals on offer are creating loyalty amongst savvy shoppers, and larger supermarket chains will need to fight hard in these categories to rebuild share.”