The source phrased the question as follows: "Within the past 3 months, have you done any of the following when purchasing a product (asked across multiple categories)?"
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Consumers changing their behavior to trade down in the UK 2024, by generation
According to a survey conducted in November 2024, over ** percent Gen Z and millennial shoppers in the United Kingdom had traded down when purchasing a product in the past 3 months. In other words, these consumers had bought less valuable or lower-priced items, e.g., by shopping at a lower-priced retailer. In comparison, only just over **** of baby boomers and the silent generation had done the same.
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McKinsey & Company. (January 21, 2025). Share of consumers changing their shopping behavior to trade down in the United Kingdom as of November 2024, by generation [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved July 20, 2026, from /statistics/1484353/consumers-changing-their-behavior-to-trade-down-by-generation-uk/
McKinsey & Company. "Share of consumers changing their shopping behavior to trade down in the United Kingdom as of November 2024, by generation." Chart. January 21, 2025. ÌÇÐÄÆƽâ°æ. Accessed July 20, 2026. /statistics/1484353/consumers-changing-their-behavior-to-trade-down-by-generation-uk/
McKinsey & Company. (2025). Share of consumers changing their shopping behavior to trade down in the United Kingdom as of November 2024, by generation. ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: July 20, 2026. /statistics/1484353/consumers-changing-their-behavior-to-trade-down-by-generation-uk/
McKinsey & Company. "Share of Consumers Changing Their Shopping Behavior to Trade down in The United Kingdom as of November 2024, by Generation." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 21 Jan 2025, /statistics/1484353/consumers-changing-their-behavior-to-trade-down-by-generation-uk/
McKinsey & Company, Share of consumers changing their shopping behavior to trade down in the United Kingdom as of November 2024, by generation ÌÇÐÄÆƽâ°æ, /statistics/1484353/consumers-changing-their-behavior-to-trade-down-by-generation-uk/ (last visited July 20, 2026)
Share of consumers changing their shopping behavior to trade down in the United Kingdom as of November 2024, by generation [Graph], McKinsey & Company, January 21, 2025. [Online]. Available: /statistics/1484353/consumers-changing-their-behavior-to-trade-down-by-generation-uk/
