Research finds Consumers save £477 each year by haggling

Often seen as cheeky and a little bit awkward, consumers have previously shied away from haggling. However, the latest instalment of the Haggling Index fromTopCashback.co.uk, the UK’s most generous cashback shopping site, reveals consumer confidence is on the rise.

The report shows an 11 per cent increase in the number of consumers who feel determined and a 15 per cent decrease in those who feel awkward while haggling, compared to 2018.

Most people (94 per cent) were able to haggle a lower price while nearly half (48 per cent) got something for free. For more than half (51 per cent) of consumers, at least 50 per cent of their haggling attempts in the last year have been successful. And for 14 per cent, at least 80 per cent of attempts were fruitful.

In uncertain financial times, a need to reduce spending and save money means consumers are becoming more courageous with haggling. The report shows a 17 per cent increase in the number of people haggling because they want to get the best possible price (62 per cent in 2018 and 79 per cent in 2019) while 12 per cent of consumers can’t afford the full price and therefore need to negotiate a lower one.

Consumers are also finding it easier to haggle on the high-street with 45 per cent of consumers finding haggling in person easier than over the phone, internet or email.

As a result, consumers are saving, on average, £477 each year by haggling – a £20 increase compared to 2018 and a £62 increase compared to 2016.