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A nation of bargain hunters

A nation of bargain hunters

Category: Vouchers

Updated: 16/10/2015
First Published: 16/10/2015

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Are you always on the hunt for a bargain? If so, you're not alone: research shows that we truly are a nation of savvy spenders, and this is extending to online shopping as well as the high street.

The quest to pay less

According to research from vouchercloud.com, those who classify themselves as bargain hunters spend an average of two days per month searching for discounts, vouchers or promotional codes before making a purchase.

The most common items that people prefer using a discount for are luxury purchases, such as TVs and holidays, with 29% saying that they sought out these kinds of bargains. A further 27% liked to buy clothes and accessories using a discount, while 26% liked to use them to help fund their leisure purchases (restaurant meals and drinks out, etc.).

Respondents were most likely to look online for discounts (58%), but they also sought in-store discounts and promotions (29%) as well as adverts in newspapers and magazines (13%). Over half of respondents (51%) said that they looked for discounts once or twice per month, while 31% used them at least once per week and 18% said it was most times they made a purchase.

But what's the motivation behind the bargain hunting? Paying less for an item than their peers was a key driver, with 69% citing this as a reason why they sought bargains. A further 61% said it was to save money or reduce their outgoings, while 43% used it as a chance to purchase something they wouldn't normally be able to afford, and 38% liked to have money left over for additional purchases.

A particularly dedicated 34% did it for the challenge or thrill of bargain hunting, because as we all know, there's nothing better than knowing you're getting something for less! However, while 42% will brag to their friends and 34% will happily recommend their bargain-hunting methods, not everyone's so keen to make their bargain-hunting ways known, with 28% telling people that they paid the full price.

Bargain-hunting on the rise

Interestingly, the desire to hunt out a bargain has increased considerably in recent years, with analysis of website data showing that consumer interest in the keyword "voucher" has risen from 3% in 2005 to 47% today, while interest in the "discount" keyword has risen from 39% to 85% over the same 10-year period.

More people than ever are looking for a bargain and how to save money, and this could arguably be a side-effect of the financial crisis. The recession forced just about everyone to tighten up their purse strings, and as a result, the number of people searching for vouchers and discounts has understandably been on the rise. Want to get in on the action? Check out our dedicated voucher section and see how much you could save!

What next?

Start your discount search

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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