February 1st, 2023, Bhavika Bansal
An unexpected global economic slowdown together with tightening financial conditions and globally accelerating shrinkflation has made it almost essential for many consumers to be more cost conscious. But which products and services, if any, are the public most price-conscious about?
Data from a recent YouGov Surveys poll - across 18 global markets – indicates that groceries (55%) top the list of areas where consumers have been the most price- conscious over the past six months, followed by utilities (36%) and clothing and shoes (35%).
Interestingly, just a third of consumers globally (30%) say they have been price conscious about take-out food – compared to the 55% who picked groceries.
More than two-fifths of consumers in Singapore (44%) and Canada (44%) - the highest among all markets – say they have been price-conscious when buying take-out food over the past six months.
Though a lesser proportion of consumers in Mexico (36%) and the US (35%) say the same, they still significantly outpace the global average.
While a little more than three out of ten consumers in the UAE (31%) indicate that they are price-conscious while ordering take-out food, one in four consumers in India (27%) and Indonesia (25%) - outliers in the APAC region – agree.
Consumers across Europe, however, do not share similar opinions about cost-consciousness with respect to take-out food. All European markets, except for Great Britain (31%), lie below the global average, with the proportion of consumers who are price-conscious while purchasing take-out food dropping to less than one in five in Sweden (19%) and Denmark (16%).
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Methodology: YouGov Surveys: Serviced provide quick survey results from nationally representative or targeted audiences in multiple markets. The data is based on surveys of adults aged 18+ years in 18 markets with sample sizes varying between 510 and 2,044 for each market. All surveys were conducted online in December 2022. Data from each market uses a nationally representative sample apart from Mexico and India, which use urban representative samples, and Indonesia and Hong Kong, which use online representative samples. Learn more about YouGov Surveys: Serviced.