Brits more likely to buy high-value tech if they can sell back at higher price later

Consumers are more willing to splash their cash on tech if they know they will see a return on their investment, a study claims.

As the cost-of-living crisis is set to deepen this autumn, nearly two-thirds (62 per cent) of adults are more inclined to purchase a high-value device, if they know they’re able to sell it back for a guaranteed price the following year.

The poll of 2,000 UK adults found six in ten are continually on the lookout for better value when making purchases, in a bid to make their money go further.

And almost half (45 per cent) are trying to think more about the future value of their goods since the cost-of-living crisis set in.

The research was commissioned by Vodafone to highlight the importance of future savings when it comes to making decisions around purchases consumers are making today.

Four in ten don't typically set aside money for end-of-season sales (Paul Thomas/Bloomberg/Getty Images)

Personal Finance Expert, Mrs Mummypenny, said: "With more people than ever affected by rising prices, it’s important for Brits to look to the future and consider how they can make their money go further.

"Consumers should interrogate the purchases they make today, to see how it can benefit them tomorrow.

"Investment can help people not only save money in the long run, but can help fund future purchases."

The study also found more than half of Brits (52 per cent) have become more creative when thinking of ways to get more bang for their buck.

One in three savvy Brits (32 per cent) are shopping around for the best deals and switching where appropriate.

And a quarter (24 per cent) are reselling items they no longer need or use, while 23 per cent have been renegotiating existing contracts when it comes to an end.

It also emerged that, before the cost-of-living crisis, 39 per cent didn’t typically put aside money to spend during peak retail moments, such as end-of-season sales.

The research, conducted via OnePoll, also found six in ten regularly look for the best deals and value when purchasing the latest tech.

And 45 per cent look for the best offers and how far they can stretch their cash before committing to the purchase of a new smartphone.