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GLO
UK consumers in 2023: 51% have made a purchase directly from an email they received in 2022. 46% will rely on loyalty benefits more this year than lin 2022 to make purchases. 62% will pay more to purchase from their favorite brands.
GLOKey Takeaways:
- Email remains one of the most effective channels for driving sales, with over half of U.K. consumers (51%) purchasing a product directly as a result of an email they received in the last 12 months. Millennials, Gen X and Boomers are all at least 38% more likely to make a purchase through email than Gen Z consumers.
- Brand loyalty remains strong, with almost two-thirds of U.K. consumers (62%) prepared to pay more to purchase from their preferred brands. Three-quarters of Gen Z (75%) identify this way, 12% more than Millennials, 32% more than Gen X and 63% more than Boomers.
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Loyalty program participation is on the up, with almost half of U.K consumers (49%) more likely to engage in a loyalty program this year than last, rising to 55% for Millennials. However, close to a third of U.K. consumers (31%) have switched away from a favoured brand in the last 12 months, with a quarter (20%) citing an ineffective loyalty program as the core problem.
- With the U.K economy stagnating in the last quarter of 2022, and predicted to be the only country in the G7 to enter a recession in early 2023, consumers are more pessimistic than their peers elsewhere when it comes to the rising cost of living and economic forecast. A hefty 73% of U.K. consumers are very pessimistic about the rising cost of living, with a further 72% feeling the same about the economic outlook. As a direct consequence 62% will make less impulsive purchases and 51% of Millennials will be relying on loyalty program benefits when making purchases.
