Britons don’t shop around for groceries

According to research from the Alliance & Leicester, 27 million Britons do not shop around for their groceries. Britons are renowned for loving a bargain but 16 million of us are paying over the odds for basic household supplies.

The research established that shoppers will pay over twice the average price for a selection of every day items which is resulting in us paying over £16 million more than we need to for a pint of milk, half a dozen eggs, a loaf of bread and a pack of 4 toilet rolls.

Over 34 million UK adults said they are prepared to pay over the odds for a loaf of wholemeal bread and more than 20 million are quite happy to fork out more than the necessary for a pint of milk.

A spokesperson for the Alliance & Leicester said they had taken 4 everyday items from a typical shopping basket to reveal how much cash we are wasting each week. 11 million say they can’t be bothered to shop around for items but with an average yearly shopping bill totalling nearly £5,000 for a family of four, it seems unlikely that most households would turn down the opportunity to see this total reduced.

However, over half of respondents said they don’t shop around for grocery items as they believe there isn’t a lot of difference in price and 43% just shop where it is convenient.

Alliance & Leicester added then when it comes to purchasing larger items such as a new car, holiday flights or a digital camera, the majority do shop around.

The bank concluded that saving even a small amount is a achievement and well worth doing. The savings you make could be put towards a family holiday.

Discuss this in the Finance Markets forums

Story link: Britons don’t shop around for groceries