As the cost-of-living crisis persists in the UK, employees are increasingly seeking support from their employers to manage everyday expenses.
Data from Perkbox, a global rewards and benefits platform, reveals a significant rise in the use of employer-provided supermarket vouchers. Between June 2023 and June 2024, usage of these vouchers surged by 54 percent.
Perkbox, which serves over 3,500 companies and includes more than 80,000 UK users, reports that workers are leaning on these benefits to make their grocery shopping more affordable. The data highlights substantial increases in voucher redemptions at three of the UK’s largest supermarkets: Asda saw a 69 percent increase, Tesco 45 percent, and Morrisons 33 percent.
This trend underscores the ongoing financial strain faced by UK households. According to the Office for National Statistics, food prices have risen by 25 percent over the past two years, a sharp contrast to the 9 percent increase seen in the previous decade. Despite a reduction in the UK’s overall inflation rate, the cost of everyday goods remains stubbornly high.
Doug Butler, CEO of the Perkbox Vivup Group, commented on the findings: “Despite fewer recent headlines, the continuing high cost-of-living continues to be a challenge for employees. Our data serves as a reminder that offering support through additional rewards and benefits to workers should remain a priority for employers.”
He added, “Ultimately, the businesses that provide additional support during economic uncertainty not only support employee wellbeing but also differentiate themselves in a competitive job market.”
This data reflects a broader trend of employers stepping in to support their workforce amid economic challenges, highlighting the critical role of employee benefits in today’s workplace.
