Research from Barclaycard has found that Britons’ spending patterns have altered since household bills, food and fuel costs have continued to skyrocket.
Other research has revealed that consumer confidence has “continued to sink” as retail sales have slowed since the cost-of-living crisis.
A consumer survey conducted by Barclaycard has found that 35 percent of card holders were bulk-buying groceries and stocked up on everyday items such as tea and hand soap.
Products can be cheaper when bought in bulk due to offers and wholesale prices and stocking up on products can also save trips to the supermarket which will cut down fuel or public transport fares.
The data takes in nearly all credit and debit card transactions from almost half of the nation and it showed that people spent an extra 18.1 percent on essential items last month in the highest rise since September 2021.
This data may be partially attributed to the rising cost of fuel which sky-rocketed by 26.1 percent.
The survey used data collected from March where 13 percent of customers are bulk buying canned goods, flour, rice, and pasta.
Meanwhile, 11 percent are stocking up on household supplies like toilet roll and 10 percent on laundry products and shampoo.
Under 10 percent of shoppers have also been buying multiple packs of over-the-counter painkillers, pet food, alcohol, easter eggs and baby supplies.
The Head of Consumer Products at Barclaycard, José Carvalho said: “Many sectors saw strong growth in March compared to the same period in 2019, as sunnier weather encouraged Brits to socialise at pubs and bars, book staycations and update their wardrobes for spring and summer.
READ MORE: Superyacht captain: Behind the scenes with billionaires
“However, rising fuel prices and household bills are clearly starting to influence consumer behaviour, with many Brits changing their travel and shopping habits to save money.”
He added: “While this may dampen growth in the months ahead, we shouldn’t overlook the expected heatwave later in April, and the fast-approaching Easter Holidays, both of which are likely to boost non-essential spending.”
The British Retail Consortium (BRC) that monitors retail patterns and consumer habits found that total sales increased in March by 3.1 percent compared to the 6.7 percent rise in February.
The Chief Executive of BRC, Helen Dickinson said: “As consumer confidence continued to sink, March saw sales slow, and while spending remained above last year this likely reflects higher prices.
POLL:Would YOU press charges on your lazy spouse for shirking chores? (POLL)
Motorists can save over £300 a year on fuel costs by ditching premium (INSIGHT)
Lewis Hamilton ‘uncomfortable’ at FIA and fellow drivers’ decisions (REVEAL)
“The rising cost of living and the ongoing war in Ukraine has shaken consumer confidence, with expectations of people’s personal finances over the next 12 months reaching depths not seen since the 2008 financial crisis.”
She added: “Furthermore, households are yet to feel the full impact of the recent rise in energy prices and national insurance changes.
“Ultimately, consumers face an enormous challenge this year, and this is likely to be reflected in retail spend in the future.”