One in two households chose a white label to deal with inflation

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Revista Mercados

This is shown by data from a recent study by idealo.es, which shows that 47.8% of households choose white label products as a strategy to reduce the impact of inflation.

However, commitment to generic or white label products shows significant generational differences among Spanish users.. Thus, Generation Z (57%) is the most inclined to this consumption model, showing less attachment to big brands, mainly because of how it interferes with their personal finances. This figure drops to 41% in the case of millennials, and barely reaches 37% of people over 65 years old, which proves a greater commitment to their preferred brands while the age increases.

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But this is not the only behavior that is changing the current cost of living crisis of Spanish users when it comes to saving. According to the results of the idealo.es survey, conducted in more than 1,000 households in Spain, seven out of 10 Spaniards say that they pay more attention to special offers and discounted products .

Likewise, 54.8% of those surveyed said that they often compare the prices of different suppliers or stores in search of bargains, which also represents a challenge for brands and marketing platforms, which are forced to adjust their prices more and reward the loyalty of their customers. In this sense, 46.2% of those surveyed claim to use discount coupons as a method of saving, while 43.8% promote loyalty points and cashback offers, that is, paying less percentage of purchases made by other participating establishments, an upward strategy. among many brands in our country.

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In this scenario, not only the commercial interaction is affected. One of the main changes in the Spanish relationship with consumption comes precisely in how we interact with products. New ways to increase savings also include extending the useful life of products before they are replaced (30.8%), addressing planned obsolescence through repair, buying second-hand products ( 11.11%), or betting for reconditioned products (10%), or products with minor aesthetic or packaging defects that do not affect their operation.

“The difficult economic situation has sharpened the creativity of users and brands. The rise of new storage methods is a trend that is here to stay and that will undoubtedly change our consumption habits, which opts for a more sustainable and efficient model in terms of economy, but that has an impact on the environment. “Households are more aware of the impact of their purchases, and without a doubt, the responsible model of consumption as imposing itself as a rising trend,” said Laura Sales, communications manager at idealo.es.

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