Younger people ‘more sensitive’ to pricing and promotion

Millennials are more sensitive to pricing and promotions, research from appears to show.

The study, which surveyed 2,000 UK shoppers - 564 of which were millennials – found that 65 per cent of the 25-34 year olds that responded have become more responsive to pricing since the start of the pandemic. According to the report, this is 4 per cent higher than the average UK customer.

Almost half – 49 per cent – of Millennials had cut back on their grocery spend due to economic uncertainty, while 52 per cent had traded down from branded goods to own brand products, compared to 21 per cent of 55-64 year olds, and just 13 per cent of those of 64 years of age.

A further 54 per cent of 25-34 year olds cut back on fashion spend due to either job or financial uncertainties, 12 per cent higher than the typical UK shopper.

Almost seven in ten – 68 per cent - of Millennials that responded to the survey said they had become more responsive to promotions.

Yogesh, Kulkarni, co-chief executive at, said: “Faced with rising sensitivity among consumers prompted by the cost-of-living squeeze, retailers are having to draw an even finer line when it comes to pricing and promotions – while they must drive demand on the one hand, ensuring consumers aren’t priced out of remaining loyal, they must closely manage margin protection on the other. By intelligently optimising pricing, markdowns and promotions, based on demand triggers, retailers can make the granular decisions needed at each store location to increase sell-through and protect margins, whilst meeting consumers expectations on prices and discounts.”

    Share Story:

Recent Stories

Find out how HULFT can help you manage data, integration, supply chain automation and digital transformation across your retail enterprise.
Talking shop: retail technology solutions from Brother
Retail Systems editor Peter Walker sits down with Brother’s senior commercial client manager Jessica Stansfield to talk through the company’s solutions for retailers and hospitality businesses, what’s new in labelling technology, and the benefits of outsourcing printing.