Shopping habits are changing. In this day and age many of us are after making shopping savings whenever we can, without having to skimp on quality – from BOGOFs to voucher codes, from short-term offers to hidden web-only deals.
Discount shoppers are now just as likely to be two-income families in leafy suburbia, with all types of consumers beginning to look harder for value.
And Experian’s research has found that visits to discount sites such as price comparison, social shopping, vouchers, cashback and pound shops, grew 17 per cent between 2012 and 2013.
- Online pound shops: 34 million visits, 88 percent growth
- Social shopping sites: 523 million visits, 57 percent growth
- Voucher sites: 350 million visits, 18 percent growth
- Cashback sites: 184 million visits, 3 percent growth
It seems that these ‘social shopping’ websites have become the main hub for discount shoppers, with people making the most of daily discount emails to alert them to deals. And with low-cost stores increasingly going online, it is likely to go up even further.
Experian’s Mosaic tool has also found that the demographic at the forefront of the growth in value-orientated shopping is ‘Middle Britain’, which tends to be combinations of internet-savvy people, looking for value for money as they juggle work and young families, and often (especially the older age range) with time on their hands to look for bargains.
When looking for the best value for money, it can also be important to be able to access the best credit deals too. When you make a credit application, most lenders want to make sure you’re able to pay it back before they commit to giving you credit. Your credit score is the number that lenders calculate, so they can work out whether or not you’ll be a responsible borrower and likely to repay what you owe them.
Checking your credit report is the first major step in taking control of your financial situation. The more you know about how your credit report works, and how lenders and others use it, the easier it is to improve your credit status – and increase your chances of being offered the best credit rates on the market.