Yolt insights: Here's how spending on food is changing since lockdown
As part of our Money Mindfulness series, we’re taking a look at how Yolt users’ spending habits are changing during lockdown. This week, we’re tucking into food budgets. We’ve digested your spending insights below.
What’s eating into your budgets? Here’s how spending on food is changing…
The “big shop” makes a comeback
Over the last few weeks, our food shopping habits have (understandably) changed. People are heading to the supermarket less often since the lockdown began but are doing bigger shops, rather than picking something up daily for dinner.
Fascinating research suggests four key factors may be spurring this change on:
- The impact of scarcity
- Our “survival” instincts
- An attempt to regain a sense of control
- The influence of herd behaviour
Taking all of that into account, it’s no wonder we saw a whopping 25% increase in the amount Yolt users spent on groceries in the third week of March alone (when compared to their ten-week average)!
Dining in’s the new eating out
Since the first week of March, Yolt user spending on “eating out” has plummeted by 70%. Considering the lockdown, that’s not a shock. But it hasn’t put a stop to people enjoying some of their favourite restaurants!
Hunters and (takeaway) gathers
There’s nothing better than a night in when you know you don’t have to worry about cooking. Maybe that's why we're so keen on takeaways as a nation. Not even a global pandemic is going to stop us from Just Eating! While we’ve seen a big decrease on ‘Eating out’, it may not come as a surprise that Yolt users have spent as much on takeaway as they did before the lockdown came into effect.
But are we saving on food and drink?
Despite spending less on lunches and dining out, on average Yolt users are spending about the same on food and drink as they were before the quarantine began. Increased supermarket spending is definitely playing a big part in balancing the books, and you may be spending more than thought on takeaways (as some restaurants are still opening for collection-only orders). Either way, it’s food for thought!
Top tips to keep your food budget low
Looking for ways to keep your spending on food and drink low? Why not try one of our top tips and ideas?
Our Pledge to Money Mindfulness
Right now, mental health initiatives are more vital than ever and that’s why we’re making a Pledge to Money Mindfulness. In addition to our blog series, filled with tips tricks and insights into our changing spending habits, we’re donating 100% of our partnerships revenue to mental health charity Mind (registered charity number 219830) from 8 April until 5 May 2020. So, whenever you use Yolt to switch, save, earn or sign up with any of our selected partners or retailers, you won’t just find a deal, but you’ll help support those most in need.
Have a look at how Yolt users’ shopping habits are changing, and stay tuned for more insights. But most importantly, stay safe!
*Anonymous in-app data from 90,000 Yolt users, selected randomly, sourced and aggregated weekly beginning 6 January 2020