Like much of Europe, the UK is struggling with high unemployment, stalling pay rises and low interest on saving accounts, meaning disposable income is still stretched for many people. However, a new report commissioned by VoucherCodes.co.uk* shows that when it comes to saving money on shopping and making money go as far as possible, UK shoppers are among the savviest in Europe.
The report, undertaken by Ipsos Public Affairs among adults in key global economies including the UK, France, Germany, Italy, Sweden and Netherlands reveals the UK has Europe’s highest percentage of online shoppers. Over half of UK adults (55 per cent) now shop primarily online and with six in ten (58 per cent) claiming they find items cheaper online as a reason to shop online vs. in-store, more than any other European country in the report, it’s clear to see why many take the time to do so.
Deal or no deal
For price conscious UK consumers, the biggest influence on online purchasing decision is whether or not there is a discount or deal available on what they want to buy. More than six in ten (63 per cent) stated this to be the case – more than any other European country in the report (compared to 43 per cent of Italians, 56 per cent of French adults, 58 per cent of Germans and 43 per cent of people from Sweden and also the Netherlands). Evidently, saving money has become ingrained in UK adults, with two thirds stating it is an important part of everyday life (65 per cent). Only in Italy is money saving as important, with 69 per cent of Italians claiming the importance of everyday money saving
The report also reveals UK consumers like brands that issue discounts and money off vouchers more than any other European country surveyed. Half (50 per cent) of British adults like brands that issue vouchers as help them buy the things they want/need, compared to 39 per cent in France, 36 per cent in Sweden, and just 29 per cent in the Netherlands (see full table below).
Further still, a third of adults in the UK (32 per cent) believe people who don’t use discount vouchers and coupons are wasting money, compared to just 18 per cent of Italian and French adults who believe this and 26 per cent in Germany (see table below).
Duncan Jennings, co-founder of VoucherCodes.co.uk comments: “Like most countries across Europe, the UK has had a difficult couple of years since the financial crisis began. As a result many adults have had to watch their spending and make sure they are making their money go as far as possible, especially as many people haven’t had a pay rise in a long time. However it’s clear from this research that British consumers have embraced a smart shopping culture far more readily than our European neighbours, particularly the money saving opportunities offered by online shopping.
“In the UK we’ve seen a permanent shift in consumer behaviour since the start of the downturn – many will now not shop without a discount and across Europe it is now British shoppers who are the savviest. However, with recovery a long way off for the Eurozone, I think we will see shoppers in countries such as Italy and France adopting the habits of the UK and taking a far more cost-centric approach to retail spending.”
|Country||I like brands that issue coupons because they help me buy the things I want/need||I Feel like people who don't use coupons when they shop are wasting money||Those who say deals and discounts influence online purchasing decisions|
Notes to editors:
* Research undertaken in 11 countries (Australia, Canada, China, France, Germany, Great Britain, India, Italy, Netherlands, Sweden and USA) by Ipsos Public Affairs between 10 – 24 June 2013.