Britons are exercising more caution about their spending habits as a result of the recession, it has been claimed.
Findings from PayPal’s latest report – Online Retail: The New Consumer Demands – conducted by The Future Laboratory, revealed that 19 per cent plan to monitor expenditure, while 54 per cent are more interested in bargain hunting now.
Commenting on the fact that 58 per cent are increasingly cost-conscious, marketing director of PayPal UK Mark Hodson noted that such a shift in attitude is unsurprising.
“Although we’re technically out of recession, it’s going to be some time before consumers start feeling better off,” he said.
The survey also found that 17 per cent of people are more inclined to save for purchases than use credit cards, which they would have done before the crunch.
However, recent research from the Post Office indicated that people are turning to credit card debt for everyday items such as groceries more and more.
By Sarah Adie