TCS Retail Consumer Survey: UK Key Findings Report

TCS Retail Consumer Survey:
UK Key Findings Report
Retail Consumer Top Trends and Takeaways

2
The TCS Retail Consumer Survey asks:
How are UK consumers adapting to an uncertain economy?
What technologies can
retailers deploy to enhance
customer experiences?
The TCS Retail
Consumer Survey
examines the buying
behaviors of 1500
consumers in the UK
to learn: How important are retailers’
sustainability and social
responsibility practices to
consumers?
To what extent have consumers
been willing to pay more
for sustainably-produced and
ethically-sourced goods recently?
What is consumers'
appetite for discretionary
spending over the
next six months?

3
Demographics: UK
1502
320 410 358 353
61
Survey demographics by age groups
Total Gen Z 18-25 years old Millennials 26-41 years old
Gen X 42-57 years old Boomers 58-76 years old Silent Gen 77+ years old

4
Millennials are most willing to share their personal
information
Most consumers care about sustainably-produced items
Millennials and Gen Z are most interested in making
sustainably-made purchases
An average of 62% of respondents paid more for
sustainably-made items
Gen Z has been most willing to pay more for
sustainably-made items
Most consumers are interested in shopping with
retailers offering rewards for sustainable choices
Millennials are most likely to shop with retailers offering
rewards for sustainable choices
Across generations, consumers are interested in using
the latest technologies to improve their customer
experiences
Millennials are more likely to shop with retailers
offering virtual experiences
Takeaways at a glance
Millennials are more likely to shop with retailers offering contact-
less check-outs
Millennials are more likely to shop with retailers offering
livestreaming capabilities
Millennials and Gen Z are more likely to shop with retailers offering
QR codes
Millennials and Gen Z are more likely to shop on social media
Millennials are more likely to shop with retailers offering the ability
to buy on a brand-owned mobile app
Millennials and Gen Z are more likely to shop in online marketplaces
Millennials are more likely to shop virtually (e.g. in the metaverse)
cryptocurrency payment options
Gen X expects to spend less on discretionary items in the next year
compared to other age groups
1
2
3
4
5
6
7
8
9
11
12
13
14
15
16
18
17
10

5
Millennials are most willing to share their personal information in
exchange for discounts or perks
Question
Thinking about rising prices and the current economic environment, compared to 12 months
ago, how willing are you to share your personal information to get a discount or perk?
60%
76%
54%
34%
25%
Slightly more/Somewhat more/Much more willing than 12 months ago
Willingness to share personal information to get a discount or perk
Gen Z 18-25 years old Millennials 26-41 years old Gen X 42-57 years old
Boomers 58-76 years old Silent Gen 77+ years old

6
Most consumers care about sustainably-produced items
88%
of consumers say that whether an item is
sustainably made or responsibly sourced
is important when considering to buy
When making a buying decision, how important is it that the item is sustainably made
or sourced responsibly?
Question

7
Millennials and Gen Z are most interested in making sustainably-made
purchases
Question
When making a buying decision, how important is it that the item is sustainably
made or sourced responsibly?
91%
87%
85%
82%
Very/Somewhat important
Importance of sustainably-made/responsibly-sourced items
88%

8
An average of 62% of respondents paid more for sustainably-made
items
of all consumers say they have
actually paid more for sustainably-
made and responsibly-sourced items
62%
Thinking about your shopping behaviors for how responsibly or sustainably an item is
made/sourced over the last six months, which statement most closely defines your actions?
Question

9
Gen Z has been most willing to pay more for sustainably-made items
Question
Thinking about your shopping behaviors for how responsibly or sustainably an item is
made/sourced over the last six months, which statement most closely defines your actions?
Paid a little more/Moderately more/Significantly more
71%
64% 56% 56% 49%
Sustainable shopping behavior over the past 6 months

10
Most consumers are interested in shopping with retailers offering
rewards for sustainable choices
of all respondents are more likely to
shop with retailers offering rewards for
sustainable choices
68%
How likely are you to shop or spend more money with a retailer offering the option to get
rewards for sustainable shopping choices?
Question

11
Millennials are most likely to shop with retailers offering rewards for
sustainable choices
Question
How likely are you to shop or spend more money with a retailer offering the option to get
rewards for sustainable shopping choices?
67% 79%
68% 59% 49%
More/Much more likely
Rewards for sustainable shopping choices

12
Across generations, consumers are interested in using the latest
technologies to improve their customer experiences
Virtual fitting
room or
virtual
staging
capabilities
Livestream
shopping
experience
Ability to
pay using
crytocurrency
Contact-less
check-out
QR Codes Ability to buy
on social
media
platforms
Ability to shop
on a brand-
owned
mobile app
Ability to buy
a
brand's
products
on an online
marketplace
Shopping in
the virtual
world
such as
the
“metaverse”
Ability to get
rewarded for
making
sustainable
choices
55%
49%
37%
61% 62%
52%
64%
72%
40%
67%
65%
54%
40%
70%
63%
58%
75% 75%
48%
79%
52%
48%
26%
56% 56%
42%
54%
65%
38%
68%
42% 42%
30%
51%
44%
35% 36%
55%
27%
59%
31%
25%
18%
46%
28%
23% 26%
53%
16%
49%
Gen Z 18-25 Millennials 26-41 Gen X 42-57 Boomers 58-76 Silent Gen 77+
Question
How likely are you to shop with retailers offering the following technologies?
(combines More/Much more likely responses)

13
Millennials are more likely to shop with retailers offering virtual
experiences
Question
How likely are you to shop or spend more money with a retailer offering virtual fitting rooms or
virtual staging capabilities? (e.g., glasses, clothes or furniture displayed virtually in your room)
55%
65%
52%
42%
31%
Virtual staging capabilities

14
Millennials are more likely to shop with retailers offering contact-less
check-outs
Question
How likely are you to shop or spend more money with a retailer offering contact-less
check-out?
61%
70%
56% 51% 46%
Contact-less check-out

15
Millennials are more likely to shop with retailers offering livestreaming
capabilities
Question
How likely are you to shop or spend more money with a retailer offering a livestream
shopping experience?
More/Much More Likely
49%
54%
48% 42%
25%
Livestreaming capabilities

16
Millennials and Gen Z are more likely to shop with retailers offering QR
codes with personalized information and offers
Question
How likely are you to shop or spend more money with a retailer offering the ability to
provide more information and personalized recommendations using QR codes?
62% 63%
56%
44%
28%
QR codes with personalized information and offers

17
Millennials are more likely to shop on social media
Question
How likely are you to shop or spend more money with a retailer offering the ability to buy
on a favorite social media platform?
52%
58%
42%
35%
23%
Ability to buy on social media platforms

18
Millennials are more likely to shop with retailers offering the ability to
buy on a brand-owned mobile app
Question
How likely are you to shop or spend more money with a retailer offering the option to shop
on a brand-owned mobile app?
64%
75%
54%
36%
26%
Abillity to buy on a brand-owned app

19
Millennials and Gen Z are more likely to shop in online marketplaces
Question
on an online marketplace?
72%
75%
65%
55% 53%
Ability to buy a brand's products on an online marketplace

20
Millennials are more likely to shop virtually (e.g. in the metaverse)
Question
in a virtual world (such as the metaverse) to purchase items for yourself or an avatar?
40%
48%
38%
27%
16%
Ability to shop in a virtual world

21
37%
40%
26% 30%
18%
Ability to pay using cryptocurrency
cryptocurrency payment options
Question
How likely are you to shop or spend more money with a retailer offering the ability to pay
using cryptocurrencies (such as Bitcoin)?

22
59% 64%
69%
57%
38%
Will stop buying or Buy less
Discretionary spend for the next 12 months
Gen X expects to spend less on discretionary items in the next year
compared to other age groups
Question
Given the current economic environment, to what extent do you expect to change your spend
on discretionary items over the next 12 months?

Contact Us: tl.institute@tcs.com
TCS Retail Consumer Survey:
UK Key Findings Report
Retail Consumer Top Trends and Takeaways

TCS Retail Consumer Survey: UK Key Findings Report

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TCS Retail Consumer Survey: UK Key Findings Report