2024 Looks Nothing Like a Money‑Saving Dream—But the Brains Behind It Are!
According to KPMG UK’s newest Consumer Pulse survey of 3,000 folks, a fourth of us feel as if the bank account is on a diet this year, whereas only about a sixth feel purring in financial bliss compared to the start of last year (41 % vs. 22 %). That’s a shocking two‑to‑one ratio of worry—not exactly a Christmas bonus.
The Big Three Kelly‑Coates: Out‑of‑House & Apparel Outposts
- Eating Out—78 % of respondents say they’ll cut back on dining at restaurants.
- Takeaways—70 % will trim their fast‑food lunches.
- Clothing—57 % will restrain from splurging on wardrobe upgrades.
Those are the same top three from the last survey, but yesterday’s numbers are bigger than those from 12 months ago (eating out went from 46 % to 78 %). Inflation feels like a relentless snacker at our tables, and the company is feeding the evidence.
More Budget‑Friendly Shopping Choices
Consumers are turning to value, own‑brand, and discount products with a surge in frequency (from 31 % to 46 %). The same for promotional buys, from 30 % to 46 %. Grocery hunter friends, it’s the coming months where bargains reign, almost a 2‑to‑1 increase in “shop‑low‑cost store” intentions.
Retail loyalty schemes are crowning the throne—now 40 % want to use them a bit more versus a mere 18 % a year ago. That’s Sears and stores aiming for more “treat‑your‑self” incentives in the face of rising mortgage rates.
Linda Ellett’s Two‑Walled Cheerleading Post
“Like 2023, people are determined to reduce, quit, and switch their spenders to save a add a bit in 2024.”
“With higher mortgages or rent, folks want more action—two‑to‑one. It reveals that those who already switched to savings in 2023 will keep that pace with a sunny drive of store loyalty.”
“Money’s the starter bell—price is what matters. Retailers keep pushing incentives, with slashing margins and high interest rates. Who’s going to survive? The story just began.”
Other Economically‑Savvy Moves
- Switching broadband, mobile phone, cable TV, and streaming: ~10–15 % are hunting for better deals.
- About 10‑cents at large. on using savings for big‑ticket purchases like holidays: 34 % (slightly up from 30 %).
- Only 5 % use savings for monthly bills, and 10 % to pay off mortgages. A quarter say no use of savings at all next year.
The average saver has just five months’ worth of income in the kitty. 20 % have less than a month’s wages saved (and 10 % have zero cash reserves), with single‑income households hitting the “no savings” mark next to 30 %.
Bottom Line
By 2024, our pockets feel a bit lighter. The evidence shows that the bigger we become, the more we look to slimming down our habits. Whether it’s dining out, wardrobes, or the big things we’ll someday purchase, we’re taking a giddy dive into a discount‑driven world—all with the right mix of patience, loyalty, and a willingness to switch out for more spirits of savings.
