Discount codes and vouchers and online discount sites such as Groupon have been growing in popularity in the UK. A recent survey by Halifax Home Insurance suggests that on average, British people are now saving close to £1,200 a year by using these group money saving or voucher sites.
Discount vouchers have been a part of shopping for a long time. Websites such as myvouchercodes.co.uk and vouchercodes.com have long offered people easy access to discount codes when shopping online. Other sites such as Groupon take advantage of group discount offers and allow people regular opportunities to sign up and share in the discounts.
The recent economic downturn has seen the discount culture grow as more people look to make savings during times of financial difficulty. The results from the Halifax Home Insurance survey suggests that the average Brit saves £1,196 per year by using these discount codes and vouchers. This amounts to approximately £51 billion across the whole country.
Restaurant chains and the food industry in particular have successfully pioneered these discount schemes as they try to entice hard up customers back to their premises. Approximately 90% of the people questioned in the survey actively use discount codes and vouchers, and just over a half of these (53%) use the codes to save on the cost of restaurants, takeaways and fast food.
At one time the use of discount vouchers may have been a source of embarrassment for some people, but the survey has indicated that people have changed their perception of the practice.
Only 1% of people who responded indicated that they were too embarrassed to use discount offers and only 0.5% said that they would look down on anyone using them. Nearly a half of people (44%) said that they share these discounts with their friends and family, and 7% even compete with each other to find the best discount.
Furthermore, the survey suggests that the use of vouchers now plays a huge role in people’s shopping habits. 42% of respondents stated that they now rely on these bargains, 20% said that they rarely pay the full price for anything and 12% admit to haggling to get the best price.
Shopping for holiday discounts are another main focus for people trying to make savings. 38% of replies indicated that shoppers actively look for these discounts. A quarter of the replies also indicate that they look for flight discounts.
Lindsay Forster, a director at Halifax Home Insurance, said: “The recent downturn has made us more careful about what we spend and more savvy in searching for savings and getting a good deal matters. People now quite rightly expect a good deal and feel comfortable shopping and even bartering to make sure they get the best price whether for a meal, a flight or even insurance.”
The popularity of discount codes look set to increase too, as inflation increases and utility bills rise. Many people may need to take full advantage of even more offers to make their money go further.