THE RETAIL BULLETIN - The home of retail news
HOME
Department Stores
Electricals
Entertainment
Fashion
Food & Drink
General Merchandise
Health & Beauty
Home & DIY
Interviews
Newsletter
Property
Shopping Centres & Retail Parks
Sports & Leisure
The Papers
RETAIL INSIGHTS
RETAIL SOLUTIONS
• The HR Summit 2019
• AI in Retail Conference 2019
• Omnichannel Futures Conference 2020
• Future of Customer Engagement 2020
ABOUT
CONTACT
SUBSCRIBE FOR FREE
New figures reveal a rise in bulk buying

Research carried out by Co-operatives UK, the national trade body for co-operative enterprises, showed that a quarter of people in the UK buy in bulk with… View Article

GENERAL MERCHANDISE

New figures reveal a rise in bulk buying

Research carried out by Co-operatives UK, the national trade body for co-operative enterprises, showed that a quarter of people in the UK buy in bulk with others and this is set to rise by 20% in 2011.

The research shows that the younger generation is leading the way when it comes to buying in bulk and sharing – with 31% of 18-24 year olds regularly buying in bulk with others in 2010 and 39% saying that they would buy more items in bulk with others to reduce costs in 2011.

Commenting on these figures, Ed Mayo, Secretary General of Co-operatives UK, said: “With job insecurity and higher bills, the most acute squeeze in the economy is arguably for young people. Co-operative buying, whether informal with friends, student food co-operatives or new forms of crowd-sourcing online, is a growing trend among young people and a good way to make your money go further.”

Co-operatives UK said that the figures indicate that the government’s consumer empowerment strategy Better Choices, Better Deals was right to set out plans to support co-operation and collective purchasing by consumers.

To help encourage collective purchasing, the government strategy outlines plans for Co-operatives UK and the Department for Business, Innovation and Skills (BIS) to pilot an Innovation Prize. In line with new work on innovative models of collaboration, the prize is intended to stimulate enterprise and promote shared learning.

The pilot prize fund, of up to £30,000, will encourage entrants that build communities by helping people to take part in collective purchasing.
Ed Mayo said: “We welcome the growing interest in collective purchasing, from both government and from consumers. We are pleased to be working with BIS to launch the Innovation Prize. The best way to empower consumers is to enable them to come together co-operatively.”
The research was conducted by YouGov on behalf of Co-operatives UK.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

The HR Summit 2019
The HR Summit 2019
8 October 2019
Hallam Conference Centre, London W1W 6JJ
Company values, collaboration with employees and driving a major HR transformation to create a truly omnichannel experience, need to be at the heart of the organisation's culture and brand
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, London W1G 9DT
SENIOR-LEVEL FORUM FOR HEADS OF MARKETING, DIGITAL, ECOMMERCE AND CX
Omnichannel Futures Conference 2020
Omnichannel Futures Conference 2020
5 February 2020
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Future of Customer Engagement 2020
Future of Customer Engagement 2020
10 June 2020
Cavendish Conference Centre, London W1G 9DT
The 11th Annual Retail Customer Engagement Conference