The Convenience Costs Brits Are Cutting Back On
| Convenience | % of people who say they have tried to cut back on how much they spend on this convenience |
| Ordering things online rather than going into a store | 59% |
| Order a takeaway dinner | 56% |
| Buying lunch out at work | 49% |
| Buy pre-packaged meals or snacks | 48% |
| Buy pre-prepared meals from a grocery store or online | 47% |
| Buy water or soft drinks while out | 47% |
| Buy a coffee or tea while out | 46% |
| Order groceries online | 40% |
| Take taxis or Ubers | 38% |
| Hire professional services | 29% |
It is clear Brits want to reduce this way of spending, so Aqua asked if they were able to save £200 from cutting costs of their weekly conveniences how would they opt to use this money?
- 63% of Brits would prioritise financial security by putting their extra £200 towards building a savings pot (39%) or an emergency fund (24%).
- Savings habits differ significantly by age, with only 29% of Gen Z prioritising saving, compared to 46% of those aged 55 and over.
- 24% would use the money to pay off existing debt, showing a strong desire to reduce financial burdens.
- Although the majority would use the money saved to improve their financial status of the past and future, the survey found 20% would put the money towards travel, while 17% would treat themselves with items like clothing, shoes, or electronics.
Sharvan Selvam, Commercial Director at Aqua, shares insights into convenience costs: "When the cost of small, everyday conveniences are combined, they can really add up over time. With nearly 60% of Brits actively trying to cut back on online shopping and takeaway dinners, it’s clear that people are becoming more conscious of these 'convenience costs.'
“To save money, try making a few simple changes.
- First, remove your saved credit card info from online stores to make it harder to impulse buy online. For things like entertainment or shopping, make sure to set yourself a monthly budget and decide which items fit into this.
- Before buying anything you don’t really need, give yourself 24 hours to think about it to make sure it’s really something that you need or want.
- Set automatic payments for your regular bills but pay for subscriptions manually so you can check if you still use them.
- Finally, use a budgeting app to track recurring charges and spot any hidden fees, so you can cancel things you’re not using. These small changes can help you cut back on unnecessary spending.”