Coventry on top as UK’s savviest spenders revealed

A new study by Savoo that crowns Belgians as the world’s savviest spenders has also revealed which UK locations are home to the thriftiest shoppers. Lockdown has changed many of our spending habits and has allowed individuals a chance to save like never before. Shoppers are being extra savvy this year and are racking up some impressive savings.

The UK’s savviest spenders

The UK is not as conscious of saving money as some of the other countries and finds itself 8th on the global leaderboard with an average household saving of just £71 per year. This is largely due to the UK’s high household debt (£29,642) and lower average income in comparison to other nations (£20,675), according to OECD data.

By using the cost of living and monthly income to work out how much each person could potentially save, as well as looking into the number of Google searches for discount codes terms were made by each city, the locations where folks have the biggest stash of cash are revealed.

Rank	City	Google searches for discount terms per 1,000 people Estimated cost of living Potential monthly saving 1 Coventry 13.76 £1,330 £1,073 2 Glasgow 13.79 £1,268 £691 3 Leeds 9.28 £1,298 £713 4 Manchester 13.50 £1,488 £598 5 Leicester 14.56 £1,197 £530   Last place London It’s probably not surprising that London comes in last place. Those living in the city having a potential monthly saving of just £292 thanks to the city’s unsurprisingly high living cost of £2,534 a month. Not only that, the study found that Londoners are not as interested in saving money when shopping online, the capital makes just 10 searches for every 1,000 people for discount terms. Ireland home to the most bargain-hunting shoppers The findings have also revealed that the Irish are the biggest second-hand shoppers. Caring the most about being sustainable shoppers, Ireland reigns supreme as the world’s most thrifty nation, with an impressive 33.2 secondhand Etsy products per million people compared to the UK that has less than half of that (14.2). Luxembourg followed in second place with 32 secondhand Etsy products per million people. The worlds savviest spenders If you interested in the top 5 ranking countries, home to the world’s savviest spenders then you can check them out below. As for the least savvy spenders, you can find those in Portugal (-2.5%), Latvia (-1.3%), Poland (-1%), Finland (-0.8%), New Zealand (-0.3%) and South Africa (-0.1%). Rank Country Saving per Household (£) Google searches for discount terms per 1,000 people Household Income (£) 1 Belgium £1,026 81.42 £21,862 2 France £1,949 55.47 £22,539 3 Germany £2,699 21.08 £24,692 4 Luxembourg £4,520 0.54 £28,270 5 Ireland £1,255 6.95 £18,223   The post Coventry on top as UK’s savviest spenders revealed appeared first on Tamebay. from Ecommerce – Tamebay https://ift.tt/3wdwdIj via IFTTT