UK residents are so cost-conscious now that they have been likened to a nation of super savers. iLikeOffers.co.uk’s recent study into spending habits revealed that each month consumers spend an average of eight hours hunting for the best price.
The trend for saving is unlikely to diminish, either. A third of people are expecting 2013 to be tougher than 2012 and 49% are saying it will be as difficult. The research also shows how nearly 10% of participants are chasing reductions for a whopping 15 hours a month.
A4u has already reported that the UK is on the verge of an extreme coupon culture. If iLikeOffers.co.uk’s own research is anything to go by, that new hunger for the biggest discounts is already commonplace in the consumer mind set.
Women control the purse strings
Women appear to be among the shrewdest shoppers and the majority are mothers between the ages of 30-45. The study earmarks this demographic as controllers of the family’s purse strings.
Those most interested in tech or fashion items appear to be in their 20s. iLikeOffers.co.uk recommends devising strategies for different groups, generic offers for families and price points on single products for young professionals.
Interestingly, over 24% of respondents confessed that friends and family have told them they spend too much time searching for discounts. Founder of iLikeOffers.co.uk, Chris Perrett, feels consumers are putting a value on their time and brands should be assisting.
“The brands that help to cut this, whether it’s improvements in the relevancy of communication, or the ability to easily share offers with friends, are the ones that will come out on top,” he said.