Brits across all ages love a ‘bargain glow’, survey finds
BRITS think the ‘glow’ from bagging a good deal lasts as long as three days.
The poll of 2,000 adults ahead of Black Friday found 76 per cent go out their way to seek a bargain – even if they can afford to pay full price.
Saving hard-earned cash (56 per cent), getting more for their money (31 per cent) and feeling savvy and resourceful (22 per cent) are the main reasons behind the lasting glow of a great save.
Others even admit to liking the feeling of beating the system (eight per cent) or ‘getting one over’ on a retailer (five per cent).
Lewis Henry from iD Mobile, which commissioned the poll, said: “Our research shows that the UK is a country that increasingly loves a good deal and is willing to put in the effort to find one.
“Whether it’s a big purchase, like a new phone, or something which could save a few pounds every month, there’s nothing like the thrill of securing a bargain.
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“The Black Friday period offers the perfect time to save big on something you may have had your eye on for a while, and it presents a great opportunity to experience that ‘bargain glow’ at its very brightest.”
The research found Gen Z are the savviest saving generation, as 86 per cent admit they go out their way to bag a bargain – ahead of millennials (81 per cent) and Gen X (78 per cent).
A staggering 96 per cent of millennials had even bought something simply because it was on offer – as had 93 per cent of Gen Z.
The more youthful age groups are more likely to brag to others about their deals, too, with 70 per cent of Gen Z and 62 per cent of millennials likely to tell others about their exploits – compared to just 49 per cent of boomers.
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Across all age groups, the tipping point for what is considered a good deal has also been revealed, with the sweet point being a 37 per cent saving.
And shoppers are willing to sacrifice almost 49 minutes of their time hunting for deals.
The top thing people most look for value on includes groceries (58 per cent), clothing (56 per cent) and electronics (44 per cent).
Others love the thrill of saving money on long-lasting deals, as 29 per cent said getting a deal on their mobile phone contract was important, as well as home utility bills (31 per cent).
While 31 per cent prefer a good deal on recurring costs, ahead of impromptu deals they weren’t expecting on a one-off purchase (14 per cent).
There are some factors at play holding Brits back for splashing out – including a lack of need (55 per cent) and budget constraints (39 per cent).
Behavioural psychologist Jo Hemmings is working with iD Mobile, which claims to save customers up to £230, on average, compared to other major networks, with its SIM only plan.
She said: “The combination of a cost-of-living crisis and the huge variance in costs of anything from mobile phone contracts to holidays - enhanced by designated sales events like Black Friday - means that far from feeling a ‘cheapskate’.
"We now feel a real sense of achievement and satisfaction in saving money - that ‘bargain glow’.
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“This glow feels especially significant when we are making a long-term saving rather than an immediate, one-off purchase, because we can see how it benefits us over a period of time.
“While bargain impacts all of us, it is younger people who have grown up with online shopping, and shopping around, as the norm - so it’s no surprise they are the most motivated, purposeful and astute at finding the best deals available.”
Best Black Friday shopping tips
Friday 29th November and Monday 2nd December mark the official Cyber weekend sales but with the majority of brands sharing promos before then, it’s good to check them out early.
1. Plan Your Purchases
First up, you’re obviously going to want to get ahead on the Cyber weekend deals. Be sure to prep your diary so you know exactly when you’ll want to shop those Black Friday deals
2. Sign Up
Be sure to sign up to any Black Friday/Cyber Monday wait lists as this will ensure you’ll be first to shop the Cyber deals.
3. Download The App
App exclusives mean you might be able to gain an additional discount. This will also make the next step even easier… Prepping that wish list!
4. Add To Wish List
Make sure you can checkout as fast as possible by having all your faves saved in one place.
5. Save Your Details
Ensure your account details are saved to make for a quick and easy checkout experience.
6. Set A Budget
We know it can be hard to not get carried away when faced with unmissable discounts but be sure you only spend what you’ve budgeted for this Black Friday & Cyber Monday. Set a budget and actually stick to it.
7. Make A List
Finally, if you’re hoping to shop ALL the sales this Black Friday why not make a list so you can tick off your purchases as you go? Christmas party outfit, Christmas gifts for your loved ones, new in winter coat that you can’t stop thinking about… Tick them off as you go.