Fashion brands have seen sales slump by almost £700 million in the last year – the steepest fall since 2009, according to the latest Kantar Worldpanel report. Experts say this is partly down to shoppers who are now used to finding bargains and discounts, especially online, being more reluctant to spend big on luxury brands. Supporting the theory that Britain has become a nation of bargain-hunters, research from online marketplace Flubit, on consumers’ online shopping habits found that:
- 60 per cent of people now search for a discount code before buying goods online
- 35 per cent sign up to newsletters for discounts and 34 per cent regularly search forums for money-saving tips
- 8 per cent have emailed a company to secure a better offer on a purchase
- One in 20 people have written a letter of complaint before receiving an item to secure a discount or freebie in the future
Flubit spokesperson Tia Saunders said: “Today’s consumers are extremely savvy when it comes to securing the best prices for products and are unlikely to make a purchase without due diligence. The rise of online shopping has given customers better choice, placing more power in their hands, while social media has rightly given them a louder voice.”
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