Cost.co.uk Responds to Study Revealing Consumer Spending Habits

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New study found that consumers are thinking of changing their lifestyle and spending habits.

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Consumers are happy to shop around online and take advantage of deals and promotional offers which can be found by investing some time and effort into purchases.

According to the Evening Standard, a quarter of consumers fear they will have to make major lifestyle changes to cope with the current financial climate. Some 25 percent of consumers say they are in real danger of being forced to make changes to cope financially such as moving to a cheaper house, giving up a car, holidays or private education.

The report carried out by Axa, named the Big Money Report, found that 64 percent of consumers had changed their purchasing behaviour significantly over the last two years.

Axa spokesperson Andy Zanelli said, "The consistent pattern of hardship chartered by the Big Money Index findings since 2011 will take a dramatic turn for some this year, forcing major lifestyle changes."

As one of the UK’s most popular comparison sites, Cost.co.uk is concerned with providing the best information and prices to consumers on a range of sectors including finance, insurance, travel and utilities. The findings show a change in the way people in the UK are living as a representative explained, "Consumers are happy to shop around online and take advantage of deals and promotional offers which can be found by investing some time and effort into purchases. The study found a change in the way consumers spend their money – something expected during a recession – and as a result they are cutting back on spending on luxuries and overspending."

Cost.co.uk continues to follow consumer based news.

Based in Essex, Cost.co.uk is one of the UK’s leading price comparison sites. Allowing their online customer’s access to companies offering a range of insurance, financial and travel services, the firm specialise in providing a personal experience. Founded in 2012, the agency has a trusted reputation for sourcing the most ideal policies at affordable prices.

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Ben Austin
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