Brits Bag a Bargain: A study into the shopping habits of the nation
According to new research 14 per cent is the discount threshold when psychologically a purchase becomes a ‘bargain’.
The study into British shopping psyche and habits, from independent price comparison website PriceRunner.co.uk(3), reveals that while 14 is the magic number for most of the nation, 1 in 5 require as much as a 50 per cent discount to call something a good deal. The Northern Irish drive the hardest bargain with over a third stating they only would consider something a good buy if it
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(3)Research from NOP World, September 2005, 1000 adults surveyed
was reduced by over half the original price, but Mancunians consider just £5 off a £100 purchase a good deal.
The research marks the annual National Savvy Shopping Day on Wednesday 19th October and uncovers the shopping habits of the nation in 2005:
Shoes, Lies and videogames
Nearly a third (32%) of British women admit to lying to their partner about the price of a purchase – with shoes topping the most ‘fibbed about list’. The list also includes expensive face creams and even wedding dresses!
While men are less likely to admit to lying (26%) they do lie about bigger ticket items – the cost of a car or expensive electrical equipment such plasma screen TVs and stereo systems. Therefore though the average British woman
may buy more shoes than men do cars, they only reduce the cost by £10.88(4) per pair. They would need to buy 162 pairs of shoes to match £1,765(5)- the amount the average British man, who admits to lying, will knock off his car price to his partner.
The trend emerging shows that Brits are prouder to appear savvy rather than flash with only 2 per cent lying in order to make people think they spent more than they did.
A Nation of Happy Hagglers
Forget the infamous British reserve, the PriceRunner.co.uk study reveals Brits are becoming so price conscious that almost two thirds (65%) are happy to haggle. People under 45 years old are most likely to haggle; with 72 per
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(4)Based on an average price of shoes being £75
(5)Based on an average price of all cars bought in the UK of £11,800 –14.5% shaved off for each £100. Average cost of a car taken from Fleet News Net
cent proud to admit they haggle over prices not only when abroad but also home in the UK. Geordies are the nation’s most prolific hagglers with 70 per cent of them stating they had haggled on purchases; the Northern Irish are the least confident with half never having haggled on the price of an item.
Brits are more likely to haggle over the cost of expensive purchases such as cars or property plus services such as the cost of getting a kitchen fitted, but are more reticent when it comes to lower cost items, despite 64 per cent revealing that they would haggle on these when abroad.
Bargain Braggers
Not only do the British love a bargain but over half (53%) also love to brag about it. Women are the biggest boasters as 61 per cent of them admit to regularly bragging about the cost of their purchases. Men are more reserved and two thirds prefer to let people think they have paid the full price. East Anglians (57%) are the biggest braggers but people in the West Country like friends to think they paid the full wack.
The Fall of Celebrity
Recommendations from friends and family influence 84 per cent of the population when it comes to making non-essential purchases. The least influential are celebrities with only nine per cent of people taking notice of endorsements. Bad news perhaps for the latest Nike campaign featuring Gavin Henson or Kerry Katona’s adverts for Iceland…
Gary Goodman at PriceRunner said: “Although Brits might not be honest about the amount of money they spend on expensive purchases, the rise in popularity of stores such as Primark means that we are more focussed than ever on securing the best deal and we’re proud of it.
Price comparison sites put savvy shoppers in control as Brits can be sure that they will be getting something at the best possible price – meaning that there is no reason to lie.”
Notes to editors
• Fib List – The Top 5 Weirdest Purchases That People Have Lied About:
o Pet snake
o A bag of Doritos
o Electronic screwdriver
o A rocking horse
o A car
• Fib List – The Top 5 Purchases That Women Have Lied About:
o Shoes
o Handbags
o Make-up/Face cream
o Wedding dress
o Jeans
• Fib List – The Top 5 Purchases That Men Have Lied About:
o Car
o Computer
o iPod
o Television
o Golf clubs
For further information please contact:
August One
Alex Clack Richard Slater
T: 0208 846 8311 T: 0208 846 8335
E: alex.clack@augustone.com E: richard.slater@augustone.com
About PriceRunner
PriceRunner, a division of ValueClick, Inc. (Nasdaq: VCLK), is the UK’s most comprehensive and independent price comparison company. Online prices are updated on a daily basis by a specialist team that develops and manages cutting edge technology which hunts down the cheapest online prices available. PriceRunner is unique in that, unlike other price comparison sites, a dedicated team of PriceRunners also checks prices in high street stores. PriceRunner always lists the cheapest price first and is completely independent in that it lists all retailers, regardless whether they pay or not, to provide consumers with a complete overview of the market.
About ValueClick:
ValueClick, Inc. (Nasdaq:VCLK) is a leading global provider of digital marketing solutions, enabling advertisers, agencies and publishers to reach consumers through all major online marketing channels. Through its four main businesses; vcmedia, Commission Junction, Mediaplex and PriceRunner, ValueClick provides a comprehensive portfolio of digital marketing solutions.
For more information, please visit www.valueclick.com