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Discount Culture Increases Shopping Costs For Deal Seekers

The recession has left a new breed of shopper and a ‘discount culture’, but new research reveals that 'discount' shoppers often end up spending more
Fashion & Retail, Finance, Lifestyle - 18 August 2010   Download IconContent available for download:  
Audio | Interview with Rob Skinner and Sue Hayward| Login to Download

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  News Hooks:

New research reveals that a 'discount culture' born out of the recession is widespread and increasing. 43 million shoppers (88%) admit they are constantly on the lookout for special offers and promotions, an increase of 2 million people since 2009, with 18 million UK shoppers (37%) obsessively looking for discounts.

67% of online shoppers believe that the internet has raised our expectation of finding discounted or free goods. More than half (58%) now question in-store prices as a result of internet shopping which potentially puts pressure on retailers to be more competitive. Women and young people are the most conscious of securing a discount whilst the over 65s are most likely to pay the full price.

The research reveals that discount shopping is now less about cost saving than it is about value. As the recession recedes, people who obsessively look for discounts spend an additional £823 online, over six months, compared to shoppers who rarely or never look for a discount. Yet, over half (53%) of internet users now compare prices and look for deals even on their smaller everyday purchases. As many as 81% of internet users will compare prices online and 44% now consult reviews.

. Introduction:

New research suggests that the recession has bred a ‘discount culture’; within which we compare prices, regularly use discount vouchers and look for deals, even on everyday items. With the recession receding, the average discount shopper who obsessively

seeks a bargain will now be spending more online every six months than those who tend to pay full price. The research suggests that discount shopping has become less about budgeting than it is about getting value for money and we have no intention of going back to our old ways.

Why has the discount culture changed the way we shop?

Joining us to discuss this further is Rob Skinner, Consumer Affairs Manager at PayPal and Personal Finance & Consumer Expert, Journalist & Author, Sue Hayward.

. Suggested Questions:

What does the latest research reveal about the discount culture in our area?

Why has the recession had this impact on online shoppers?

With today’s resources, what are the best tips for shopping-around?

Do you think this ‘discount culture’ is a positive move?

Where can we find out more information?