Brits Addicted To Sales, Saving Over £32 Billion Each Year
Brits Addicted To Sales, Saving Over £32 Billion Each Year PR Newswire LONDON, April 18, 2013 -- Half of Brits won't ever, or very rarely, pay full price as the recession changes how we shop - Half of Brits (56%) say there are items they won't ever, or very rarely, pay full price for - Over 29 million Brits use discounts and buy items on sale more than they did 5 years ago - 90% of Brits say t hey will continue look for discounts and sales in the same way, even if their economic situation improves - Travel relies on discounting and sales more heavily than any other industry: 30% of Brits rarely or never pay full price for hotel stays and 21% rarely or never pay full price for flights LONDON, April 18, 2013 /PRNewswire/ -- Brits are collectively saving, on average, an astounding £32.1 BILLION each year on all their purchases by using saving techniques such as shopping for sale items and using discount codes, new research conducted by discount travel site Hotwire.com reveals. 'The Britain on Sale' report, a compilation of data collected from the study, shows that the recession has had a long lasting impact on how we shop. Many of us will avoid paying full price for anything again, as we have discovered new ways to save money and we are not ashamed to use them. In addition to using financially-savvy shopping techniques, the average Brit is also strategically timing purchases to ensure they get the most "bang" for their buck. Brits are collectively saving, on average, £4.4bn per year by waiting for an item to go on sale before purchasing it. Additionally, residents aren't afraid to negotiate for a bargain either, which may come as a surprise given our traditional 'reserve.' This tactic has resulted in savings of on average £2bn per year for those willing to bargain. The data shows that the recession has changed our attitudes towards spending and saving – and it appears to be sticking. A staggering 90% of shoppers, who utilize a money-saving shopping method at least once a month, say that they will continue using discount techniques to keep spending down, even if the economy recovers. Overall, British consumers have become accustomed to the never-ending sales on everything from groceries to clothes, electronics to travel. Half of all Brits (56%) say there are items they never, or rarely, pay full price for. Additionally, 57% of British shoppers are using discounts and buying items on sale more often than they did 5 years ago. Fulvia Montresor, senior director at Hotwire.com, comments: " This research reveals that Brits are becoming less and less shy about implementing money-saving strategies across all aspects of their life, and are even beginning to question why anyone wouldn't use a discount. " Travel has been strongly affected by this shift in attitude. When asked 'how often they pay full price for something,' 30% of Brits surveyed revealed that they rarely, or never, pay full price for hotel stays. 21% rarely, or never, pay full price for flights. To save money on travel, 26% of British travellers are using flight comparison websites and almost one in four (24%) are booking with discount travel websites such as Hotwire.com. "Brits' love of discounts is seen very prominently in travel, which we all know can be expensive. However, many have found ways to save big when it comes to booking their break, sometimes scoring 4-star hotels at 2-star prices when using discount sites like Hotwire," said Montresor. " Last year, 7% of Brits booked a 'secret hotel'*, meaning they didn't know the name and exact location of the hotel until they paid for it, but they knew they were guaranteed up to 50% off. These are definitely the savviest travellers!" "With secret hotels and discounts sites like Hotwire, the amount of money Brits are saving on travel is staggering, netting out to a whopping £1.7bn each year, according to these survey results. To stretch their savings even further, many are also leaving it until the last minute to book with 23% booking a holiday within days or weeks of travel. Many travel providers discount at the very last minute, and it's clear holidaymakers have taken notice of this trend. We don't see any sign of these money-saving trends changing in the near future as Brits are now a more resourceful and savvier shopper." About Hotwire Hotwire.com is a leading discount travel site that helps holidaymakers book hotel rooms at significant savings you can't find on many other travel sites. Launched in the U.S. in 2000 and in the U.K. and Ireland in 2011, Hotwire's partnerships with hotels worldwide offers holidaymakers deeply discounted hotel rooms that would typically go unsold. J.D. Power and Associates 2008 Independent Travel Web Site Satisfaction Study(SM) recognised Hotwire for ranking "Highest in Customer Satisfaction Among Independent Travel Web Sites, Three Years in a Row." Hotwire, Inc. is an operating company within the Expedia, Inc. Group CST: 2053390-40. NST: 20003-0209. For more information, visit http://www.hotwire.com/ . Hotwire, Inc. operates sites in 13 countries worldwide: www.hotwire.com , www.hotwire.com/uk , www.hotwire.com/ie , www.hotwire.com/au , www.hotwire.com/nz , www.hotwire.com/se , www.hotwire.com/no , www.hotwire.com/dk , www.hotwire.com/de , www.hotwire.com/hk , http://www.hotwire.com/mx and www.hotwire.com/sg . In addition to Hotwire, The Hotwire Group of websites includes: www.hotwire.com and www.carrentals.com . Hotwire, Hotwire.com and the Hotwire logo are either registered trademarks or trademarks of Hotwire, Inc. in the U.S. and/or other countries. All other trademarks are the property of their respective owners. © 2013 Hotwire, Inc. All rights reserved. CST# 2053390-40. For more information, please contact: Amy RongeAtomic PR on behalf of Hotwire.com email@example.com / +44 207 025 7545 Website: http://www.hotwire.com Contact: Notes to editors: Research was carried out by Opinium on behalf of Hotwire.com from 2 - 4 April, surveying 2,006 nationally representative UK adults (aged 18+). 29 million Brits using discounts and buying items on sale is calculated by: 1,140 using discounts and buying items on sale / total sample of 2,006 = 0.57. 0.57 / total population 50,371,000 = 29m; 31.2 billion saving per year through shopping used various saving methods included: I cut out vouchers and coupons from newspapers, mailers, etc, I search online for discount codes, I use cash back websites, I have a rewards credit card, I use specialist discount travel sites such as Hotwire.com, lastminute.com and others, I use flash sale websites such as Groupon, LivingSocial and others, I search price comparison websites, I haggle for a bargain, I collect loyalty points which I then use to get discounts, I wait for an item to go on sale before I buy it, I save money by buying items online after checking them out on high street, Other; Household and leisure purchases include: electronics, flights, hotel stays, clothes, groceries and entrainment tickets; *Research supplied by Vision Critical on behalf of Hotwire.com in December 2012. Vision Critical conducted an online survey among 2,008 randomly selected British adults who are Springboard UK panellists. The margin of error—which measures sampling variability—is +/- 2.2%. The results have been statistically weighted according to the most current education, age, gender and regional data to ensure samples representative of the entire adult population of United Kingdom. Discrepancies in or between totals are due to rounding.