How the growth of personal technology is defying the financial crisis
With rent, food, and the cost of living more expensive consumers are searching for bargains – and smartphones and tablets are enabling the hunt
With the word ‘recession’ feeling more distant by the day and fears of financial instability starting to lessen, the UK public is finally in a position to consider spending again.
Studies suggest we’re becoming more likely to part with our money – as long as it goes to the right places. So just how are Brits spending their money? Consumer spending in Britain may have hit a five-year high during the second quarter of 2015, but this 1.4% rise is not expected to continue as the effects of the Chinese and European crises set in.
We remain cautious as a nation, generally unwilling to commit to large purchases such as property – but reports indicate that smaller buys are on the rise. Chief among them is personal technology with smartphones and tablets set to remain fast-growing markets.
As of 2015, 38 million of us own smartphones. We spend a huge amount of time on those phones, which puts internet technology at our fingertips. From social media to purchases and navigation, there’s so much we can do.
They’ve been worth spending on, and it’s no wonder the market has grown. After all, once you’re set up with your phone you can use free Wi-Fi in many places, download free apps and access free services. You can even cut the costs of everyday living if you know the right places to look!
We all want to save money. The average weekly grocery bill for two people is £60 and rent hits around £550 across the UK. The cost of living continues to rise, hitting £26,500 in 2012 and rising at a steady 1.3% rate since.
Meanwhile, income was set back a decade during the financial crisis and is only now starting to improve. The discrepancy is a big one, so saving is important wherever possible. That’s where the new wave of mobile voucher services is really starting to come into its own.
We’ve all got smartphones, and we’re a nation that loves a bargain. Voucher clipping and collecting has been popular among savvy shoppers for many years, but printed advertising and publications have grown less popular.
According to The Drum, 67% of UK adults now say that they go online for voucher shopping. Tapping into that mobile market and offering internet based vouchers has allowed companies to reconnect with customers, offering deals and discounts in a whole new way.
Mobile voucher users now exceed 53 million according to eMarketer and voucher sites, for example VoucherBin.co.uk which has a machine learning algorithm to understand customers’ needs, are growing in popularity by offering unique features and a valued user experience.
Simple to use and with hundreds of retailers and services offered, voucher sites potentially offer something for everyone.
74% of people use their mobile phones to access shopping services, so discounts and vouchers are sure to see a bigger take-up, and lead to more savings for customers as a result.
With so much expense on a daily basis, those savings are invaluable to consumers. With little disposable income, that smartphone technology probably seems like a wise investment. All those savings made through smart voucher use online is going to improve your personal finances and help make purchases possible. Consider all the ways you can take advantage of a personalised voucher service that fits in your pocket.
This article is based on surveys conducted by a marketing analyst, Swapnil Kulkarni, of VoucherBin UK, which also conducts research and surveys, providing analysis across multiple sectors, particularly news media platforms and the corporate sector.
According to The Drum, 67% of UK adults now say that they go online for voucher shopping.