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Savings and discounts the new norm for UK shoppers following recession
British shoppers are finding it hard to shake off the impact of their country's biggest recession since the Second World War, according to new research. Customer insight specialists Aimia surveyed consumers in the UK and found that hunting out discounts and rewards is the new norm.
Britain is a nation of shoppers prepared to hunt out discounts, targeted offers and rewards thanks to financial instability experienced over the last few years. They're even prepared to alter their lifestyle choices to make their money go further.
The findings come from Aimia's latest Loyalty Lens report which compares survey results for 2012 and 2014. They show that 61% of consumers say the recession altered the way they shop and, for 43% that behavioral change is here to stay.
Saving money by using vouchers has increased with 44% now using them compared to 34% in 2012. Similarly, the use of loyalty schemes has risen with nearly three-quarters (74%) using them to stretch budgets and claim rewards, up from 71% in 2012.
Other changes involve lifestyle and the types of places used to make purchases:
- 48% are now opting to entertain at home rather than eat out, up from 39% in 2012;
- There has been a slight rise in the use of price comparison websites now used by 57% of people, up 1 percentage point from 2012;
- The number using vouchers remains at 70%:
- More than half (52%) frequent auction sites to save money, up from 49% in 2012.
"The coping mechanisms used during the recession have evolved into new behaviors in the home and on the high street that look set to last. We're living in a new rewards economy," says Jan-Pieter Lips, President of Aimia, EMEA.
"Now everyone - regardless of income - is using a toolbox of ways to make their money go further, from discounts and rewards to entertaining at home. By making small daily savings, people can enjoy spending money on bigger purchases, such as holidays."
Image via Shutterstock
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