Over 40% of consumers thinking about future savings when buying products – poll

CONSUMERS are more willing to splash their cash on tech if they know they will see a return on their investment.

As the cost of living crisis is set to deepen this autumn, 62% of adults are more inclined to purchase a high value device if they know they’re able to sell it back for a guaranteed price the following year.

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The poll of 2,000 UK adults found six in 10 are continually on the lookout for better value when making purchases in a bid to make their money go further.

And 45% are trying to think more about the future value of their goods since the cost of living crisis set in.

The research was commissioned by Vodafone to highlight the importance of future savings when it comes to making decisions around purchases consumers are making today.

Personal Finance Expert Mrs Mummypenny said: “With more people than ever affected by rising prices, it’s important for Brits to look to the future and consider how they can make their money go further.

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"Consumers should interrogate the purchases they make today to see how it can benefit them tomorrow.

"Investment can help people not only save money in the long run but can help fund future purchases."

The study also found 52% have become more creative when thinking of ways to get more bang for their buck.

Among the top ways savvy Brits are making savings includes a third (32%) shopping around for the best deals and switching where appropriate.

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As well as 24% reselling items they no longer need or use, and 23% renegotiating existing contracts when it comes to an end.

It also emerged, before the cost of living crisis, 39% didn’t typically put aside money to spend during peak retail moments, such as end of season sales.

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The research, conducted via OnePoll, also found six in 10 regularly look for the best deals and value when purchasing the latest tech.

While 45% look for the best offers and how far they can stretch their cash before committing to the purchase of a new smartphone.