Tough times mean nation of bargain hunters
New research commissioned by Webloyalty has revealed the extent to which the UK has become a nation of bargain hunters, with half of us now taking action to save money on leisure activities and holidays, particularly through the use of discount vouchers.
The extensive research for Webloyalty’s study, undertaken by retail and consumer research specialists Conlumino, found that 47.5% of respondents use discount vouchers or codes in their hunt for a bargain, as economic pressures have put constraints on household budgets. 29.2% of Brits say they have used these for a leisure activity such as going to the cinema, whilst 28.6% of consumers have looked for vouchers and codes when booking a holiday.
Against a backdrop of ongoing economic difficulty, it is unsurprising that people are looking for ways to save money their leisure activities. Overall, 44% of consumers have taken action to spend less money, this year, whether this be eating in cheaper restaurants or choosing to download movies rather than go to the cinema.
Webloyalty’s research highlights the rise of the savvy consumer – one who is able to enjoy their usual activities without having to pay as much. Leisure and retail businesses can increasingly look to these means to win their customers’ trust by ensuring that they get the best deal possible, and helping them make ends meet as real wages continue to decline.
The research also highlighted one area, where consumers can still do more to save, with only one quarter of consumers currently using cashback sites or services. 28.2% of consumers have used a cashback site or service when booking holidays or leisure activities and 24.1% belong to a travel or leisure loyalty scheme. Bargain hunters could therefore being doing even more than they already are to save money.
Guy Chiswick, Managing Director of Webloyalty UK and Ireland said: “We all know that Britain loves a bargain, and it is clear that easy access to discounts vouchers and codes are providing consumers with great opportunities to save money without compromising on doing the things they love. However, there are still many ways of saving that are not being used. People are still missing out on opportunities to save through cashback and loyalty programmes. Our research shows that these could be a key area of growth for UK retailers moving forward.”