Both men and women are adopting smarter shopping habits, according to a new survey by Hitachi Capital Consumer Finance.
The retail point-of-sale finance firm has surveyed over 3,000 shoppers and found consumers across the UK are bracing themselves against rising prices and reduced disposable incomes as a result of pay freezes and inflation.
While it has been assumed women are savvier shoppers than men, the survey revealed 70% of men felt they were savvier shoppers now than five years ago, compared to 75% of women.
Since recession hit, both women and men are increasingly surfing the internet and using online resources to check and compare prices; as well as hunt out deals and discounts before hitting the high street, said Hitachi.
Male shoppers are adopting a range of money saving habits and strategies in much larger numbers than previously expected, it said.
Over 90% of both male and female shoppers in the UK either actively search for discounts or wait for the sales before hitting the high street, arming themselves with loyalty cards and vouchers.
However, when it comes to actively asking for discounts directly in the show room or shop, men (27%) are more confident in doing this than women (17%).
Gerald Grimes, managing director at Hitachi Capital Consumer Finance, said: “Most people would assume women are savvier shoppers but an overwhelming majority of both men and women arm themselves with loyalty cards or discounts before hitting the stores.
“This demonstrates the importance of loyalty schemes for retailers, such as our savvi programme, in targeting both sexes as consumers appreciate rewards and are shopping smarter to make their money work harder for them, particularly in this challenging economic climate.”
Hitachi Capital Consumer Finance has links with numerous retailers across the UK and said it places great emphasis on the proactive and profitable support it provides to aid clients in retailing their goods and services both online and in store.