- Vypr’s new weekly cost-of-living tracker identifies current consumer concerns.
- 72% of people remain concerned about energy costs.
- 48% of consumers have reduced spending overall, with 51% worried about grocery bills.
- 32% of consumers drive less, with 27% walking more – 56% worried about rising fuel costs.
- 27% of consumers have switched to discounts, and 28% visit more than one store.
Manchester, 10 October 2022 – A new cost-of-living tracker with publicly available week-on-week data has been launched to help brands understand consumer sentiment and behaviour.
The tracker, named Vybe, has been built by the product intelligence platform Vypr. It asks a nationally-representative sample of consumers from Vypr’s 65,000 strong community key questions across four categories. These span food and drink, spending habits, travel and socialising.
The latest data (6 October 2022) shows that 49% of consumers are now spending less. 40% of shoppers are looking for more offers, and 31% are buying more value ranges. 27% of consumers only buy essentials as the cost-of-living crisis heightens.
Kevin Baldwin, Vypr CEO, comments: “The Vybe tracker allows a snapshot of consumer behaviour with the ability to compare previous sentiments. As financial volatility continues, brand owners need to be able to closely monitor how people are feeling and behaving. The interactive interface offers a ‘quick-glance’ of those weekly micro-changes.”
He adds: “As more data becomes available, the tracker will provide a timeline to help understand market trends. For example, the latest data shows that around a third of people maintain their social habits. Vybe will track how such trends change as the economic landscape evolves through autumn and winter.”
By applying the latest research technologies, Vypr constantly refines its tools to provide robust intelligence that is statistically and scientifically sound.
Find out more at vybetracker.com
