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Get significant savings and be shopping savvy

Brits losing out on significant savings through lack of shopping savviness

Research released today shows majority of British shoppers are not taking advantage of money saving tactics such as sales, comparison sites, discount codes and loyalty schemes. That’s despite the study showing that people believe themselves to be bargain hunters who also wouldn’t put up with paying above the odds or standing for price increases on goods and services The research is released today as the price of a Euromillions ticket increases by 25% - but what can consumers do if they don’t want to pay the increase? Consumer journalist Harry Wallop and Nigel Birrell CEO of Lottoland.co.uk look at the options

Brits could be missing out on significant savings on not just big ticket items, but also everyday goods and services through a lack of savviness when it comes to shopping.

That’s according to new research released today which shows that while more than 70% of us consider ourselves to be savvy shoppers, more than two thirds will often just buy something from the first place they see it, while less than half try to find bargains.

And while massive sales both online and instore have become a regular occurrence from most retailers who also offer heavily reduced goods during once yearly sales times such as Black Friday and Boxing Day, only one in eight of us have stayed up late for the start of online sales and only one in 12 have ever lined up for instore sales.

Despite this, many of us say we would not stand for significant price increases across goods and services – with three quarters saying they would shop around if something they bought regularly increased in price by 25%, while one in eight said they would stop buying it altogether.

The research was conducted by Lottoland.co.uk to coincide with changes to EuroMillions. Camelot will raise the price of a EuroMillions ticket from £2 to £2.50 on Saturday September 24th with the price rise applying for the first time for the draw that takes place on Tuesday September 27th.

However, there are money saving alternatives for Brits, with the news that Lottoland.co.uk will freeze their EuroMillions prices at £2, meaning players can continue to win all the same main game prizes, including the jackpot, but for 50p less than they would pay if they were to buy a ticket with Camelot.

The research also shows that almost 40% of us feel angry when we discover we’ve paid significantly more for something than someone else, and on the flipside one in seven of us get a huge thrill when we know we’ve paid less than someone for the same item.

As well as the price increase in the EuroMillions draw, players will select five main game numbers from 1-50, but instead of picking one lucky star from 1- 11, they will now pick two lucky stars from 1-12, with the odds of winning the jackpot rising from 1 in 117 million to 1 in 140 million.

Consumer journalist Harry Wallop looks at ways in which we can become savvier shoppers and looks at why so many of us are not getting the best deals and prices we could even though we claim to be bargain hunters and feel annoyed and even angry at paying over the odds.

Nigel Birrell, Chief Executive, Lottoland.co.uk looks at the Euromillions price increase and what it will mean for consumers.

This was posted in Bdaily's Members' News section by Broadcast Exchange .