A recently conducted poll by a leading consumer trends firm has discovered that today’s British shopper will go to great lengths in order to get the best deals on day to day items such as clothing, food and cosmetics. However, only 20% of people are willing to shop around for the best deal when buying financial products such as personal loans or credit cards.
Peculiarly, the poll discovered that almost 40% of Brits vary where they buy petrol from, based on best market value at the time of purchase. Whilst an additional 50% of people allow value for money to dictate where they choose to eat out.
Unfortunately, these seemingly sensible ideals are quashed when it comes to matters of personal finance. The survey revealed that less than 10% of people will change their mortgage provider, even if they are aware of a better deal, and more than 70% of people refuse to hunt for the best deal on all other forms of finance, usually accepting their first offer at face value.
One expert concluded that British consumers appear to take a very sensible approach with regards to shopping for daily items and services, but are less savvy when it comes to their personal finances. Unfortunately, this common trend is causing many people to seriously loose out with regards to potential savings, and to ultimately cancel out any good achieved through best value shopping in other aspects of their lives.
