According to a study released by Centromarca, and reported by ECO, around three in four consumers admitted to choosing cheaper brands when shopping, and more than half of them included promotional products in their baskets.
The results are taken from an analysis conducted by Kantar and Centromarca – Associação Portuguesa de Empresas de Produtos de Marca, with a sample of 4,000 participating families, representative of mainland Portugal, spread across more than 1,000 survey points, that announced purchases between January 2 and October . 8, 2023.
Centromarca noted that “Portuguese continue to search for promotions and compare prices,” noting that “between January and September 2023, 51.3 percent of national consumers’ purchases included products on sale,” and that “77 percent of consumers surveyed also reported that they compare the prices”. And choose the most economical brands.”
In addition, the data allow us to conclude that in 2023, consumers in Portugal continued to increase the frequency of shopping and decrease the value purchased each time, but both trends slowed compared to last year.
In the third quarter of the year, consumers reduced the frequency of shopping, compared to 2022. While the frequency of purchases increased by 3.3 percent in the case of food items, 2 percent in fresh produce, and 3.3 percent in beverages, there was a decrease of 0.9 percent. percent in purchasing animal foods.
Purchase value decreased in all categories, most clearly in animal foods (-8.2%), in food (-7.3%), in fresh produce (-7.7%) and in beverages (-6%).
The data also reveals a significant year-on-year increase in the value of products outside the VAT basket, during the second and third quarters of the year. “The reversal of VAT 0, may also negate the increase in basket size in products outside the basket covered by the measure, which has been observed in recent months,” said Kantar Customer Area Manager, Marta Santos.
Distribution brands continued to gain importance in Portuguese homes, with the frequency of those purchases registering a 4.4 percent increase between 2022 and 2023, and an even greater 19.4 percent increase in the amount spent by consumers.
“The gradual deflation of inflation and the expected modernization of salaries may allow a slight recovery in purchasing power for many households that have been severely hit in the past two years. However, it is necessary to take into account the negative impact of the reversal of the zero VAT at the beginning of January,” the Director General said. For Centromarca, Pedro Pimentel. For the responsible person, “this would be, if political conditions permit, an appropriate time to discuss proposals for harmonizing VAT in the food sector.”