According to a recent study, the majority of Ukrainian consumers prefer discounted products. Specifically, 75% of respondents regularly purchase items at promotional prices and are willing to switch from their usual stores for a better deal.
This is reported by Finway
Impact of Promotions on Store Revenue
Analysts have calculated that nearly half of the total revenue of retail chains is generated from promotional products. In the food segment, this figure reaches 56%, while in the non-food segment, it stands at 49%. This indicates the significant role of discounts in retailers’ strategies and the shopping habits of Ukrainians.
Changes in Consumer Preferences
Due to economic factors, Ukrainians are forced to reassess the contents of their shopping baskets, seeking the best offers. There has been a decrease in demand for alcohol, confectionery, and snacks, which is linked to rising prices, especially for chocolate products. As a result, many consumers have switched to non-chocolate confectionery, optimizing their expenses.
Another notable trend is the increasing popularity of ready-made products, particularly fish, seafood, and meat products, indicating a heightened demand for convenient food solutions.
At the same time, more and more shoppers are choosing private label products (PLPs). According to 43% of respondents, the low price is the main reason for switching to PLPs instead of branded alternatives.
“75% of consumers regularly buy products at reduced prices and are willing to change their usual stores for a better price.”