Managing Your Cash Flow

Recession fuels full-price phobia

2 min read

01 August 2013

The recession has permanently changed the way UK adults shop, according to VoucherCodes.co.uk research.

It seems that the nation is full of discount shoppers as 61 per cent claim they always check for a discount before buying items. The inclination to save is higher in women than men with 41 per cent of women choosing a shop or restaurant that offers a discount over a full-priced competitor, compared with 36 per cent of men. Bargain hunters are so eager to ensure they are not paying over the odds, as over 5m Brits even check with shop workers whether their store has any discounts before they spend their hard earned cash.

The average consumer has used a discount code seven times in the last month. The average saving per month through voucher use is £64.87 – amounting to a staggering savings pot of £778.44 a year.

When asked what drives their hunger for discounts, 35 per cent of respondents love the satisfaction of knowing they got a good deal, while 13 per cent claim using discounts lifts the pressure from making purchases when they feel they should be saving.

The research into consumer shopping attitudes also uncovered the top five products consumers refuse to buy without first looking for, or waiting for, a discount:

  1. High ticket electricals e.g. TV;
  2.  Holidays;
  3. Clothes;
  4. Books and DVDs; and
  5. Theatre tickets or visiting attractions.

Duncan Jennings, co-founder of VoucherCodes.co.uk comments: “Spending habits have now changed irreversibly for a lot of UK adults who’ve been forced to make cut backs wherever they can and many have now learnt that paying full price for everything just isn’t necessary. By making a habit out of using discounts and voucher codes, shoppers can really make their money go further without scrimping on the quality of purchases.”