40% of Brits ranked price as the number one decider, ahead of Germany (35%), France (32%) and Spain (28%).
Inflation and the heightened cost of living in the UK mean price topped the list of factors impacting shopping habits for Brits, yet quality remains the deciding factor across the rest of Europe, including France (37%), Germany (35%) and Spain (45%).
The analysis by Accenture – which surveyed 2,500 people in the UK – suggests UK consumers continue to feel the impact of inflation more acutely than their European counterparts.
41% of UK consumers said their disposable income had declined in the past 12 months, compared with 33% in Germany, 32% in France and 31% in Spain.
Despite slowing inflation and forecasts of declining interest rates, consumers remain concerned about the coming months.
Worry about the health of the national economy (65%) remains the biggest point of stress for consumers. Meanwhile, more than half (53%) of people remain worried about their own financial situation.
High costs and information overload lead to falling trust in brands.
Consumers feel inundated by options, information, and marketing messages when they shop, contributing to a sense of overload and diminishing trust in retailers’ advice.
Just over a third (35%) of UK consumers believe companies have good intentions behind their offerings. Over two thirds (69%) stated they don’t trust sustainability claims anymore because “greenwashing” is so common.
70% feel frustrated at the amount of effort they must put in to deciding what’s best for them, compared to a global average of 63%.
Meanwhile, 61% said they often feel confused by conflicting advice, recommendations and reviews.
Matt Jeffers, retail strategy and consulting managing director for Accenture in the UK & Ireland commented: “Millions of households across the UK are facing the dual challenge of too little cash and too much choice.
Matt Jeffers
“Shopping should be fun and while more information and choice may be welcomed by some, for others, cutting through that noise can be stressful.
“To eliminate the risk of consumers abandoning their baskets, brands must find new ways to re-engage consumers, regain trust, and ease the stress of shopping.
“Technology has a vital role to play in making shopping feel more seamless, less stressful and tailored to individual customers.”