§ 75% of Christmas shoppers do not believe high street retailers offer best value
§ Nearly one third of Britons acknowledge that they pay too much for their Christmas shopping
§ Study reveals on average 20% can be saved by shopping online
London — 28.11.04
Less than a month before Christmas, shoppers are not happy with the deals they are being offered on the high street according to a study by Kelkoo.co.uk, Europe’s largest shopping search engine.
Just 25% of British shoppers believe they receive the best value from High Street stores at Christmas. 29% acknowledge that they overpay, while the remaining 46% chose to accept a price even though they were not sure it was the best deal.
The Kelkoo study also found shopping online resulted in an average saving of 20% for a typical basket of 8 presents.
- For details of products, high street stores visited and regional breakdowns, please contact the Kelkoo team on 0207 592 1200 / 07941 307236 -
Based upon the most popular product searches to date that customers have made on Kelkoo in the run up to Christmas, the company created a ‘shopping basket’ of hot items and then visited retailers across the country to check their prices.
The researchers found that over the survey period (November 20-25) shoppers would be able to save £125 on the items in the Christmas shopping basket by shopping online at kelkoo.co.uk, a saving of 20% over typical ‘High Street’ prices – with savings of nearly 30% on products like perfumes and DVDs.
Glen Drury, UK MD Kelkoo.co.uk commented: “Analysts agree that although its still at an early stage, as more people buy online or at least browse there, Internet shopping is set to change the way we shop. Last year retailers were concerned at the slow start to Christmas and how consumers were waiting for prices to go down and so put off purchases waiting for a better deal. This has been driven in part by comparison shopping sites like Kelkoo.co.uk that show items selling for different prices.
“Taking a widescreen television for example, a consumer can save in excess of £200 by shopping around for the best deal online. The best bargains this year will be on electrical goods such as DVD players, portable TVs and digital cameras.
“Customers are increasingly better informed and are not just interested in low prices but are taking advantage of the Internet’s capacity to provide third party validation and recommendations on demand. The Internet has increased price transparency and helped to make consumers more aware, more educated and more demanding. “
1,000 members of the public from London, Manchester, Bristol, Birmingham and Edinburgh took part in the face-to-face survey and were asked about their spending behaviour in the run-up to Christmas.
The survey also found that we are seemingly tempted by impulse purchases when shopping. Although 38% of shoppers try to set a budget, only 22% manage to keep to it, with 37% of the nation’s shoppers admitting to overspending on a typical High Street Christmas shopping trip. 62% of us don’t even try and budget for Christmas at all.
Glen Drury, UK MD Kelkoo.co.uk commented: “Whilst Christmas is a great time of year, the one thing that most people dread is the hassle of shopping. It seems as though the crowds and the stress are getting to shoppers and forcing them to accept prices and deals they typically wouldn’t.
“With consumer debt spiralling out of control year on year, it’s interesting that nearly 40% of us admit to overspending when we go Christmas shopping. Shopping online makes budgeting for Christmas simpler as you can find just what you want in seconds and are not tempted by impulse buys.”
Additional findings compared contrasted regions around the UK:
Ø Londoners seem to lack the patience to cope with shopping for too long: the average shopping trip lasts 2.5 hours for a Londoner compared with 4.5 hours in the rest of the country. A staggering 91% of London shoppers claimed more than two shopping trips would be needed in order to complete their Christmas shopping, compared with 49% of Bristolians whom reckoned they could get all the presents they needed in just two trips
Ø Each shopping trip comes with hidden costs: return travel expenses and food can add an average of £12 per person to each shopping day’s bill
Ø Just 13% of Bristolians thought they were getting the best deal from the city’s shops, compared with 36% of shoppers in Birmingham, who are the country’s happiest shoppers
Ø Surprisingly, it’s the Scots who are the biggest overspenders in the nation, 55% of whom end each shopping trip feeling they have spent more than they meant to
Ø Bristol shoppers lead the way in planning ahead, 67% of whom budget for Christmas shopping trips, compared with just 22% in Birmingham and 20% in Edinburgh.
- For graphical representations of the survey findings, please contact the Kelkoo team on 0207 592 1200 / 07941 307236 -
- Ends -
Notes to editors: About the Research:
§ The on-street research was undertaken by Kelkoo in five cities (Bristol, Birmingham, Manchester, Edinburgh, London) w/c November 20 2004.
§ On-street research teams in each city asked typical high street shoppers to complete the survey. At least 75% of respondents were aged 20-44. 50:50 split between men and women questioned. 1000 completed responses were achieved, 200 per city
§ Pricing information is correct at time of writing. High Street and Online prices will fluctuate, and these prices are not fixed
§ Further information on the research is available on request
§ Internet shoppers in Western Europe will spend 44% more online this Christmas than in the festive period last year, predicts analyst Forrester.
§ The IMRG (Interactive Media in Retail Group) predicts that UK shoppers will spend £3.5 billion online this Christmas – a 40% increase on 2003
§ Monetary Policy Committee member Richard Lambert has identified a number of factors contributing to low inflation and has noted the Internet has played a part: “Affordable PCs have made it easier for consumers to compare prices and to buy direct, whether it be an air ticket or flowers for your granny.”
· The Kelkoo website now boasts 4 million UK visitors per month (Nielsen NetRatings)
· 41 of the top 50 UK retailers are currently partnered with Kelkoo including major names such as Comet, Tesco, John Lewis, Dixons, PC World, Harrods, Carphone Warehouse, HMV, WH Smith, Phones 4 U, Co-op and Argos
· In April 2004, Kelkoo was acquired by Yahoo! and is now a wholly owned subsidiary
For further information, please contact:
Mario Tilney-Bassett, Brands2Life / Mario.email@example.com firstname.lastname@example.org 0207 592 1200 / 07941 307236
This press release was distributed by ResponseSource Press Release Wire on behalf of Brands2Life in the following categories: Consumer Technology, Personal Finance, Business & Finance, for more information visit https://pressreleasewire.responsesource.com/about.