Brits Care More About Quality

New research has shed light on the importance of quality for consumers, despite the continuing rise of the cost of living, as nearly a third (31%) say that quality of products and services is more important now than it was a year ago. For Gen Z and Millennials, this demand for quality is even greater, with over half (54%) of 18-24 year olds and 43% of 25-34 year olds putting more emphasis on it than a year ago.

”Building trust in uncertain times”, a new study* from global regulatory compliance firm

Ideagen, explores the significance of quality in  consumers’ purchasing decisions, the role of safety and quality symbols in providing reassurance during uncertain times, and the impact that past quality-related events have on society.  

Ideagen appointed Walnut Unlimited to interview a representative sample of 2,000 adults in GB and discovered that the cost of living has put a greater emphasis on price, but consumers aren’t willing to compromise on quality of goods and services, even with rising household costs. Over a third (34%) rank quality as the most important when making a purchase, much higher than convenience (3%) and customer service (2%). That said, unsurprisingly price still is a key consideration for purchasing decisions, with over half (58%) citing this as their number one priority.

The report also looks at how demand for quality compares against other considerations when making different purchase types. Quality is top over price and convenience when it comes to food and medicine, with over half (51%) and nearly two thirds (63%) respectively citing this as the most important, even for those in lower socioeconomic households. Meanwhile, in other industries quality and safety priorities also remained. For example, 29% said safety was a deciding factor when buying a flight and 17% said the same for financial services purchases.