Half the UK population say health and wellbeing is the most important factor when making buying decisions.
That is according to research conducted by Kantar on behalf of Product of the Year, the UK’s biggest survey of product innovation, which sought the opinions of 10,000 consumers.
It was found that 49 per cent prioritise health and wellbeing when buying products, while two thirds (61 per cent) cited a well-known or reputable brand as a determining factor and over a third (33 per cent) said product innovation was key to purchasing decisions.
Other important factors included ethical sourcing (31per cent), products recommended by friends and family (29 per cent) and ecofriendly packaging (25 per cent).
It was also found that consumers seek trust and familiarity more than ever after a diffcult year. It’s a mood reflected in the research, with the majority of consumers opting for brands that have always served them well. The appetite for health and wellness products among those surveyed reflects a growing concern for mental and physical health among Brits who are still grappling with the effects of the pandemic.
In 2019, Product of the Year carried out the same research. Comparing the 2020 research with gures from 2019, there’s a clear shift in buying behaviour. Pre-Covid, value for money was overwhelmingly the most important determining factor, with four fifths (78 per cent) citing this as the key reason they buy products, while health and wellbeing was far less of a priority, with only a third opting for healthy products.
“After 17 years of tracking consumer habits, we’ve seen trends arise, shifts in shopping habits and changes in attitudes,” commented Helga Slater, MD, Product of the Year.