Brits fatigued by the high cost of shopping around for the lowest price

Over three quarters (79%) of Brits believe that there are so many options for shopping around to find the best deal that they feel bewildered and don’t always know who to trust, with 65% pinning this distrust on the overwhelming volume of price comparison sites. 

The study of 2,000 shoppers carried out by Holiday Inn Express, part of InterContinental Hotels Group (IHG), revealed that while 96% of the consumer population shop around, and just under two thirds (65%) claim to enjoy deal-hunting, three quarters find the process of scouring a number of places to find the lowest price frustrating. 

Meanwhile, nearly a further three quarters (73%) have lost track of where they can go to get the best deal. To add to this, only one in five consumers are aware that there are often hidden costs involved when booking with some sites.

Price comparison confusion 

A revealing 69% of Brits confess they think there are too many price comparison sites available online and the same number finds the sheer amount of sites on offer confusing. In addition, only two in ten shoppers are aware that there are often hidden costs involved when booking through some sites so the price they quote is not always the lowest. A further 52% admit that there are now so many options, that when it comes to holiday planning they spend more time looking for the lowest price available than actually planning the trip itself.

Shopping around before parting with cash, which more than half of Brits regularly do (54%), proves to be a time-consuming activity. The average adult spends nearly one day a month scouring price comparison websites, calling stores and brands and searching online every week, just to get what they want at the lowest possible price.

The lengths to which deal-hunters go

The great lengths some shoppers go to in order to get the lowest price were also uncovered, with almost one in ten queuing for an hour or more. Over a third (39%) claim to have spent hours searching online and one in twenty have even queued overnight to snag a bargain. 

Whilst over three quarters of consumers (78%) admit they feel a sense of thrill from saving money and just under a third (30%) deem finding the lowest price as important to them, it seems the thrill of the chase from hunting down the best deals comes at a cost for many. The average adult spends nearly one full day a month scouring price comparison websites, calling stores and brands and searching online every week, with seven in ten shoppers totting up to just £20 a month in savings.

The research was commissioned to support the launch of Holiday Inn Express’ ‘Lowest Price Promise’ offer – a guarantee that guests will get the lowest price when they book direct.

Consumer Champion Sarah Willingham, who has teamed up with Holiday Inn Express to launch the ‘Lowest Price Promise’ initiative said:

“I’m surprised that so few people know about commission often driving up room rates.  If you want to get the lowest price for your hotel room it’s always worth looking around in the first place to know what’s out there, then phone the hotel direct to try and get the best deal for you.”

Savvy shopping

One-in-five go online to get a price and then head direct to the supplier to see if they can beat or better it. Over half (55%) of shoppers are aware of the security, rewards and benefits available to them by going to direct to a company. However, uncertainty from price comparison sites means that 68% believe they could save more money if they spent more time shopping around. 

Over half (55%) of shoppers are aware of the rewards and benefits available to them by going to direct to a company. However, uncertainty from price comparison sites means that 68% believe they could save more money if they spent more time shopping around.

Brits are most likely to shop around for holidays, followed by insurance, clothes and gadgets. Hotel stays, food, flights and utility bills are also among items people hunt around for before finally making a purchase or booking. 

Mike Greenup, Vice President Brand Management for Holiday Inn Express added: 

“Our research clearly demonstrates that consumers don’t always know how to get the best deal. We want to make it simple for guests. That’s why we are launching our Lowest Price Promise – a guarantee that they will always get the lowest price for our room, whenever they book with us direct.”

Biggest bargain-hunters in the UK by location:

1. Newcastle

2. London

3. Norwich

4. Cambridge

5. Leeds

6. Birmingham

7. Manchester

8. Cardiff

9. Southampton

10. Leicester

Locations least likely to bargain-hunt:

1. Plymouth

2. Edinburgh

3. Belfast

4. Sheffield

5. Portsmouth

6. Glasgow

7. Brighton and Hove

8. Bristol

9. Oxford

10. Liverpool

Top ten lowest-price priorities:

1. Holidays

2. Insurance

3. Clothes

4. Gadgets

5. Food

6. Flights

7. Weekends away/hotel stays

8. Utility bills

9. Mobile phone/contracts

10. Furniture