Pound stores show consumer power

In recession led times, the good old pound store is showing pulling power.In a recent YouGov survey, almost one third of Brits (32%) have shopped in a pound store in the last three months. What is more results show thrift stores have developed a regular,

loyal shopper who will keep returning even if the economy picks up.

Almost a quarter (23%) of respondents have bought products from one or more of key categories asked about at a pound store in the past three months and are spending less at supermarkets and other stores in at least one category as a result.

Saving money is the overwhelming reason for using pound stores, with 60% of respondents citing this as the main reason for shopping there – and mainly these were older females over 55(66%) who went to be penny saving.

Interestingly the survey also challenges assumptions that thrift store shopping is mainly for lower social class grades – ABC1 categories were just as favourable to the idea.

Almost a quarter (24%) of respondents in London say the ‘deals on offer’ are the main reason they shop in pound stores; in Scotland the figure rises to 41%, but just across the border in the North of England 19% of pound shop customers cite deals as their main reason for shopping.

YouGov consulting director, Rob Cushen, concluded ‘Our research suggests that shoppers aren't simply planning to head back to supermarkets when the financial situation improves: 74% of respondents who bought something from a pound store in the last three months say they will continue shopping there even if the economy improves. What this means is that the deals on offer are creating loyalty amongst savvy shoppers and larger supermarket chains will need to fight hard in these categories to rebuild share.”