Brits are searching for discounts on clothes, food shopping and meals out, new research has revealed.
The research, which was conducted by 118 118 Money, surveyed the British public to explore the lengths that people go to in order to get discounts on goods/services.
The study found that 92% of Brits have used some form of discount code or offer in the past. On average, Brits spend 16 minutes and 42 seconds searching for discounts each week, and on average this activity can equate to savings estimated at £319 a year.
The goods/services that Brits most commonly search for discounts for includes:
1. Clothes (60%)
2. Food shopping (57%)
3. Meals out (54%)
4. Technology (46%)
5. Hotel stays (35%)
6. Holiday (34%)
7. Cosmetics / beauty products (34%)
8. Flights (32%)
9. Contracts e.g. phone, broadband (28%)
10. Drinks (25%)
Looking at generation differences, 18-24 most likely to search for discounts on meals out (58%) and clothes (76%) than any other age group, and their estimation of how much money they have saved per year through discounts is the highest (£429.01).
Those in the 25-34s were the most frugal age group overall, with 30% looking for discounts every time they shop, and were also most likely to search for discounts on holidays than any other age group (40%).
35-44 most likely to search for discounts on contacts (e.g. phone, broadband) than any other age group (38%). 45-54 most likely to search for discounts on food shopping than any other age group (69%), and also spend the longest time searching for discounts each week (~20 mins).
The research also found that respondents were most likely to ask for discount online (65%), much higher than in-store (25%), over the phone (6%) or on social media (3%).
David Goodman, managing director (loans) at 118 118 Money, commented on the findings: “Our research found that most Brits are utilising discounts where possible, but that many are still not making the most of savings to be had when it comes to specific goods and services.
“One of the most surprising stats was that just 28% are asking for discounts on our phone and broadband contracts. This hesitance or reluctance to ask for a better deal, especially if they are a loyal customer, is ultimately costing consumers.”