Brits feel proud to bag a bargain
Everybody loves a bargain, with ‘thriftyness' becoming second nature to many, and now price comparison website has tapped into a new trend where Brits are cashing in on the feel-good factor when it comes to making a saving.
New research reveals that 48 per cent of Brits take great pleasure from securing a bargain and say they feel amazing regardless of whether they save £1 or £100. The research found the feeling of achievement people get when they save money is not affected by the amount of money saved - 24 per cent of those surveyed said saving money makes them feel as though they've achieved something they can be proud of. It's not only personal pride which packs a punch for moneysaving Brits - 58 per cent of people said they get the greatest satisfaction from telling people about the savings they've made.
With money-saving offers readily available across a variety of products, 53 per cent of people admit going out of their way to get a bargain. Nearly two thirds (64 per cent) of people feel cheated if they later find out they have paid over the odds for something, really emphasising how UK consumers have come to expect to find discounts and save money on their purchases.
Women (aged 18-34) have particularly bought in to the trend, with over half (53 per cent) of those surveyed saying they would rather save £500 on a major purchase than be pleasantly surprised by unplanned weight loss. Eight out of ten (79 per cent) British men would also rather get £500 off a major purchase than have their preferred teams win an important sports match.
The research, which supports moneysupermarket.com's current advertising campaign which is based around the feeling you get when saving money, revealed that getting a discount on high street items satisfies Brits the most (26 per cent), with almost half of those surveyed feeling most excited about getting clothes at a reduced price (48 per cent). This ‘money saving pride' extends to discounts on holiday and travel related products, which proved a popular second (22 per cent), followed closely by reductions in car related products (14 per cent) and voucher discounts (8 per cent).
The research also revealed that as a result of hunting the best deals, people are now holding on to the money they save in preparation for their next bargain (61 per cent). However, this isn't always the case for the care-free younger generation who admit to immediately spending the saved money on something else (24 per cent).
Tim Moss, Financial Expert at moneysupermarket.com says: "Households up and down the country are working hard to make their money stretch further. It isn't surprising we are seeing changes in shopping habits as consumers go the extra mile to expand their bargain hunting territory to make bigger and better savings.
"Consumers have quickly learnt how to get a good deal and have identified the adrenaline buzz they feel when they get a great discount. They are proud of getting money off their purchases and are understandably keen to share the epic feeling that comes with it by telling their friends how often and how much they are saving."
Christine Webber, Psychotherapist says: "The most interesting aspect of the research for me is the fact that people feel so euphoric at saving money - irrespective of how much cash is involved.
"I believe this is because of the difficult financial times we live in. We have little or no control over the stock markets, our pensions or how much longer we're all going to have to work. So, hunting down a bargain feels like a real triumph and helps us feel that we have at least some control over our money. There is a real satisfaction to be had from knowing that we have done a deal and have not had to part with the full asking price for something that we want."
Top tips from Tim Moss, Financial Expert at moneysupermarket.com on on how to shop around for the best deals:
1. Sign up to newsletters from brands to spot deals
2. Do your research first on comparison sites
3. Follow your favourite brands on Twitter to stay abreast of the latest deals and special offers
4. Read customer reviews and recommendations
5. If you've found the product or deal cheaper elsewhere, mention it, it may mean you get a better price
6. Make that call. It's amazing how picking up the phone, and being confident, direct and friendly could swing the retailer or restaurant into offering you a deal
7. Match the price by taking a print out of an internet price into a shop and get the shop to match it