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Sunday, May 26, 2024
RetailHalf of consumers admit haggling for life's essentials this year

Half of consumers admit haggling for life’s essentials this year

More than half of consumers (51%) admit they have haggled for an essential product or service this year, according to new research.

The survey of 1,000 people by Purbeck Personal Guarantee Insurance, suggests the UK’s small businesses need to be on guard as one in five respondents said they thought it was fine to barter when buying from an independent retailer or small business owner.

A third of those quizzed said they planned to drive down business owners’ prices to save costs this Christmas.

The poll also found that 32% have saved up to £200 this year by haggling, while one in ten had recouped over £500.

However not all haggling attempts have been successful, as 27% said they didn’t save a penny as their attempts were declined.

Shoppers said they also feel it’s acceptable to haggle if the item is cheaper elsewhere (72%) or the item is high value like a car or piece of technology (53%).

Paying in cash was also deemed an acceptable reason to haggle by 46%. 59% of men said they had haggled opposed to 43% of women.

Interestingly, the higher the income, the more likely a person is to haggle. 58% of people earning £40,000 plus a year have haggled this year compared to 47% of those earning £10,000-£19,999.

Those in the East Midlands (21%) are least likely to have haggled, while those in the West Midlands were most likely (63%) to have tried to bag a bargain.

Todd Davison, MD of Purbeck Personal Guarantee Insurance said: “Haggling has not been part of our culture in the UK, particularly for essential items so this survey really demonstrates that people are shaking off their British reserve and trying their luck to help mitigate rising living costs.

“With one in five believing a small business is an acceptable target for haggling attempts, business owners will need to be prepared as the countdown to Christmas commences.”

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