Which country has the savviest consumers?

Which Country has the Savviest Consumers?

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The online savings platform BravoVoucher conducted research that shows the top countries with the savviest consumers as part of the Smart Shopper Index. A global ranking of the countries where the consumers are savvy with their spending habits and their savings.

Brits scoring poorly in the Smart Shopper Index

The study examined numerous consumer habits like overall spending relative to the cost of living, shopping decisions, household savings and debt, and food spending relative to cost in all OECD countries for which data was available. With all this data they aggregated a points-based index to discover which countries have the most perceptive shoppers.

According to the BravoVoucher research, Brits are more enthusiastic spenders than they are savers. On average, Brits spend almost everything they earn, saving just 1% of their disposable earnings.

Consequently, they score poorly on overall spending habits, except when it comes to food. The UK is ranked third for the savviest food spending habits, relative to cost.

The UK’s savvy food spending is also shown in customers online searches. Food & drink is the third most popular shopping category, and UberEats (food delivery app) is the top brand people search discounts for, with half a million searches every month!

Another thing that British consumers search for a lot is savings. The search volume is around 24 million times which is double the Germans search volume and coming close to the amount French search for. Although the Brits show a strong interest in savings they are placed at the lower end of the smart shopper ranking due to their spending habits.

France is undoubted “the winner” in smart shopping

According to the study index the smartest shoppers are located in France. They score highest on the considerate purchasing scale and an overall score of 421 points. They also have a pretty high score in household savings, placing them third behind Germany and Netherlands.

Smart Shopper Index – Search volume correlation

Ireland takes second place with a score of 312 thanks to their savvy overall spendings, and food and drink spendings. They are followed by Germany which takes third place with 288 points as a result of the Germans’ household savings being the highest in the OECD countries analysed.

Placed in fourth and fifth place for overall spending relative to the cost of living are the US and Norway. The United States is a country with a great ability to save up and savvy overall spending habits.

What brands and shopping categories do the savvy customers choose

The Google search data for 7 of BravoVoucher’s biggest markets in the rankings (the UK, France, the US, Germany, Spain, Italy and Poland) reveals a positive correlation between search behaviour and shopper savviness.

Top shopping categories for savings related searches

In terms of savings and discounts, Fashion is the top shopping category in four of the seven countries analysed. The most preferred brands by smart shoppers are fashion retailers.

In the US Kohl’s retail chain is ranking in second place with 14 million monthly searches. In the UK the online fashion giant Asos and sports retailer JD are ranking in fourth and fifth place.

Similarly, Germany’s ranking is dominated by fashion and lifestyle retailers, with e-commerce company Otto leading the ranking, followed by fashion retailers Zalando and Asos.

Top brands for savings related searches

Marco Farnararo, CEO at BravoVoucher, said:

“What consumers regard as being smart with their shopping differs from country to country, and our study explores how different factors impact their overall shopping savviness. While online searches may tell one story, there are different variables that come into play, especially looking at spendings relative to cost or household savings. It’s interesting to see that although many shoppers continue to value more traditional deals and discount categories such as fashion and lifestyle, other categories that surged in interest during the pandemic, such as online food delivery, arts and crafts and even gaming are piquing their interest.”

For more information about the study, please visit:

https://www.bravovoucher.co.uk/smart-shopper-index

 

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