News

Almost 40% of Brits heading to Poundland

Thirty-nine percent of Brits have bought items from a pound shop for the first time as part of measures to save money in today’s challenging economy, according to Lightspeed Research.

The survey of 1,000 consumers found that 20%, dubbed the ‘strugglers’, are cutting back drastically, while almost a third of those surveyed have reported minor or substantial cutbacks.

Twenty-five percent have bought second-hand items that they would previously have bought new, 20% have taken to mending their own clothes and 45% have cut back on buying treats such as crisps and cakes.

Thirty-eight percent of those surveyed have tried to negotiate better deals from their existing household providers, while 18% have cancelled insurance policies including illness, home contents and health insurance. Almost a sixth have opted for walking or cycling to work in a bid to save cost of petrol and travel.

With the summer holidays in full swing, 28% have changed their holiday plans in a bid to save money and instead are looking for other ways to enjoy a break. Fifteen percent are staying with family or friends, 9% sharing accommodation, 7% camping rather than using a hotel, 2% are swapping houses and 2% camping in their own back garden. Eleven percent have cancelled their holiday entirely.

Jenni Baker, London