A survey of 2,000 adults conducted ahead of Black Friday revealed that a staggering 76% go out of their way to seek a bargain even if they can afford to pay full price.
According to the study, the ‘glow’ from securing a good deal reportedly lasts up to three days.
The main reasons behind this long-lasting glow of a great save were saving hard-earned cash (56%), getting more value for money (31%) and feeling savvy and resourceful (22%).
Lewis Henry from iD Mobile, which commissioned the poll, commented: “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.”
He added: “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.”
The study also found that Gen Z are the savviest saving generation, with 86% admitting they go out of their way to bag a bargain ahead of millennials (81%) and Gen X (78%).
Younger age groups are more likely to brag about their deals, with 70% of Gen Z and 62% of millennials likely to tell others about their exploits compared to just 49% of boomers.
Across all age groups, the tipping point for what is considered a good deal has been revealed, with the sweet spot being a 37% saving.
The top items Britons seek value for money on include groceries (58%), clothing (56%) and electronics (44%). Meanwhile, 29% of people relish the thrill of securing a deal on their mobile phone contract, while 31% prioritise savings on home utility bills.
Behavioural psychologist Jo Hemmings, who is collaborating with iD Mobile, commented: “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’.”
“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.”
