Introduction
The current economic climate is marked by uncertainty and volatility, making consumers naturally cautious about purchasing decisions. Building and maintaining consumer trust is therefore crucial for businesses to thrive.
Ideagen’s latest survey, conducted in January 2023 from a pool of over 2,000 respondents looked into the factors that influence consumer purchasing decisions for a range of products and services from food, medicines and consumer goods through to travel and finance.
This executive report examines the results of the survey and provides insights into consumer perceptions on quality, identifying opportunities for companies to solidify trust with their customers.
Methodology
This research was conducted by Walnut Unlimited on behalf of Ideagen in January 2023 of 2,004 adults from across all regions of Great Britain. All results in this report are rounded to the closest decimal point. For the full results, download the full survey here.
- Results show high-profile quality or safety failures linger for decades in the minds of consumers
- Businesses need to focus on cost, but not at the expense of quality: a third of consumers (31%) say quality is more important than 12 months ago
- Nearly half of people say they've experienced a decline in goods and services compared to a year ago
- Quality matters most to consumers buying medicine (63% of people put it top) and food and drink (51%)
- Consumers are more price sensitive when shopping for financial services (58% focus on cost of borrowing) and flight tickets (43% will look at price ahead of all other factors)
- People buying high-value products, want certified assurance of quality