Shoppers 'drop unnecessary costs'
26.08.2008
The credit crunch has led to UK shoppers cutting back on "luxury items", according to new research.
A study carried out by the Co-operative Bank claims consumers have cut items such as flowers, magazines and bottled water from their shopping budgets in order to save money.
The average spend during a supermarket visit is also down, from £89.88 to £68.33, as Brits look to reduce debts, such as those run up using credit cards.
Emma Thomas, current account product manager at the bank, said: "People are being more conservative in their spending and are finding that cutting back on luxury items can help make a difference."
Ms Thomas also stated drawing up a household budget is "essential to keep spending in check".
Other non-essential items mentioned in the survey include CDs, candles, quilted toilet paper and fresh coffee.
Meanwhile, the Halifax bank has announced a credit card scheme which will give new and existing customers an additional month of zero per cent on balance transfers and purchases.
The All-in-one credit card now features an 11 month interest-free period, the bank claims.
A study carried out by the Co-operative Bank claims consumers have cut items such as flowers, magazines and bottled water from their shopping budgets in order to save money.
The average spend during a supermarket visit is also down, from £89.88 to £68.33, as Brits look to reduce debts, such as those run up using credit cards.
Emma Thomas, current account product manager at the bank, said: "People are being more conservative in their spending and are finding that cutting back on luxury items can help make a difference."
Ms Thomas also stated drawing up a household budget is "essential to keep spending in check".
Other non-essential items mentioned in the survey include CDs, candles, quilted toilet paper and fresh coffee.
Meanwhile, the Halifax bank has announced a credit card scheme which will give new and existing customers an additional month of zero per cent on balance transfers and purchases.
The All-in-one credit card now features an 11 month interest-free period, the bank claims.