YouGov Survey Suggest UK Consumers Fritter £Millions Away Daily

Released on: October 08, 2010, 7:18 am
Author: Simon Terry
Industry: Consumer Services

Consumers don't haggle, they tip needlessly in restaurants, they discard money off vouchers and pay over the odds for credit charges – at a time when money is tight, people are still wasting their cash

• Before purchasing, only a third of consumers check the prices of banking rates (31%) and credit card interest rates (35%)
• 10% refuse to negotiate prices in shops
• 40% of defect goods remain unreturned
• 67% of ladies do not wear the new shoes and clothes they buy
• 78% of money saving vouchers get thrown out
• 29% of restaurant tipping is unnecessary if the service or food is bad

08 October 2010 – A new YouGov survey has shown reports of £millions being wasted by British consumers everyday. From tipping double in restaurants, paying higher than normal banking charges, putting money off vouchers in the bin and not comparing prices, Brits are wasting money which they should be looking after, especially at a time like this.

Across the British Isles, 2,000 people responded to the survey which was for the money saving website, DiscountVouchers.co.uk, and found that 43% have been paying higher than normal bank charges, 78% threw away money off vouchers and 29% tipped in restaurants where it wasn't necessary.

“Keep the change” is a regular quote for 14% of men who try to show off in front of their friends or workmates. Ladies buy new shoes and clothes (67%), then do not wear them. Despite the usefulness of comparison websites, only 35% of people check the credit card interest rates and 31% check the bank rates before buying.

Mr S. Terry from DiscountVouchers.co.uk stated, “Too much money is being wasted in the UK according to the survey. People willingly tip in restaurants where it's not needed and are not akin to haggling. People in the UK need to check their daily spending and see where cutbacks can be applied. Making positive changes to the way you spend helps in managing your finances more efficiently”.

Restaurant Tipping
Despite the food and service quality being below par, 38% of people from London still tipped in restaurants. With 10% of diners in the South West, 10% in London and 14% in Wales said they would be more inclined to tip if they took a fancy to the staff serving them. People from the East Midlands (7%) were more likely to leave a tip if they were with a new partner or on a date. Men were more likely (15%) to tip if they liked the waitress, 3% said they would tip if they were with a workmate and 7% said they would do it to impress their partner.

Happy Hagglers
Men are more prone to negotiating prices than women (only 8% of men wouldn't as opposed to 12% of women). Businesses are happier to haggle, as long as they get a sale at the end. Car showrooms are the most popular places to haggle with 55% of people trying. Only 8% would try in a travel agency and 9% in an electrical goods store. In shoe shops, clothing shops, supermarkets and restaurants, only 1% of the respondents said they would try to haggle on price.

Only 7% of people from the South West, South East and Wales would never haggle. That means these areas are most likely to haggle. The areas which are least likely to haggle on prices are the North East and East Midlands where 14% said they would not give negotiating prices a chance.

Sales Don't Always Mean Savings
Millions of pounds are wasted during sales as consumers by the goods then never use them. 67% of women waste money when they buy new shoes and clothes and never wear them. Men waste money on DVDs/CDs (19%), sports gear (7%) and computer items (8%) during a sale and then don't use them.

Results from Wales showed that they were more likely (43%) to use the items they bought in the sale whilst those in London (67%) said they were least likely to use the sale items they purchased.

Mr Simon Terry added, “People need to check to see if they actually need that sale product and whether they are getting the best deal for it. Normally, there are better deals and discounts to be had”.

Get more information from www.discountvouchers.co.uk

/ends.

All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 2189 adults. Fieldwork was undertaken between 28th - 30th July 2010. The survey was carried out online. The figures have been weighted and are representative of all GB adults (aged 18+).

About DiscountVouchers.co.uk
DiscountVouchers.co.uk features the latest money saving offers from a growing range of retailers, all updated in real time. Designed to help consumers save money with both leading high street brands and specialist retailers, DiscountVouchers.co.uk offers one of the widest choices of discounts available.

Part of ASAP Ventures Ltd, the company behind the award winning Carrentals.co.uk price comparison site, DiscountVouchers.co.uk is committed to offering a growing range of the best savings available online.

For more information visit www.discountvouchers.co.uk

Media contact –
Rachel Builder & Jenny White
Context
rachel.builder@contextpr.co.uk
jenny.white@contextpr.co.uk
T: 01625 511966

Contact Details: Simon Terry
press@discountvouchers.co.uk
DiscountVouchers.co.uk
www.discountvouchers.co.uk

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