5 Favorite Spending Habits of Brits

Although the recession appears to be waning, the thrifty spending habits Brits adopted during the economic slowdown are expected to continue indefinitely.  While money is a bit looser than it was just a few short months ago, the inability to borrow cash easily has resulted in more UK residents living within their means. This translates into lower spending rates overall, and the lack of secured loans but it does not necessarily mean Brits are willing to give up all of life’s niceties completely.  Here are five favorite spending habits of Brits today that may very well go on in the future.

Online Shopping

Brits have discovered that shopping online means much easier comparison shopping than running from store to store checking prices. With just a click, you can see prices from a variety of retailers from the comfort of your home office. This convenience is something that UK residents are not eager to give up, with many using online retailers for items like clothing, shoes and even groceries. Online vouchers make products even more affordable, and websites offering these coupons are seeing an increase in traffic as shoppers are tuning into the potential savings available.

Healthy Eats

Spending for snacks has decreased, while purchases of fresh fruits and vegetables have gone up. Unfortunately, the obesity rate in the UK does not yet reflect this shift in British spending habits.  In favor of saving more at the dinner table, many Brits are also purchasing gardening supplies to grow their own fresh produce at home.  The decrease in eating out, combined with an increase in other modes of transportation like bikes to get around town, may eventually result in a healthier population as well.

Shopping Around

Expensive necessities like car insurance are worth shopping around for, and many Brits are doing just that today.  Men are more willing to negotiate prices on items than women, with 14% of men bargaining with retailers and 8% of women doing so, according to recent PayPal research. The research also showed that as many as 54% of shoppers were taking advantage of comparison shopping to find the best prices on merchandise.

Feeling Good

Another industry that has seen an increase in sales is the over the counter and alternative medication sold through local pharmacies and grocers. Women are also purchasing more beauty supplies through these economical means, including skin and hair care items. While we may not want to spend as much to look and feel good, we are not willing to sacrifice our mental and physical wellbeing completely during economic hard times, it appears.

Techno-Purchases

Technology continues to thrive, and new options are added to the field of communications and technology every day.  As Brits are outfitting up their home offices, they are also staying home more, and the entertainment industry has taken a serious hit as a result. Today’s UK residents are finding more joy in staying at home, watching movies on their big-screen televisions, and listening to music through their high-tech sound systems.

The UK population has adjusted their spending habits in accordance with the current economic trends, but they have not given up shopping and buying completely. When the product is seen as a good value and the price is right, Brits are still willing to open their wallets to enhance their lifestyles.

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