Brits are increasingly prioritising flexibility over fixed deals when it comes to big-ticket purchases, with over three-quarters saying they now actively look for brands that give them more freedom at checkout.
New research commissioned by easyJet Holidays has found the demands of modern life are pushing Brits away from purchases that require them to be locked in and towards those that offer greater control, adaptable terms and peace of mind.
Almost eight in ten (78 per cent) Brits say they feel more cautious about committing to large purchases than they did two years ago, while two in five (43 per cent) admit they have experienced “buyer’s regret” after feeling locked into a deal they couldn’t easily change.
The data also reveals that over half of consumers (52 per cent) associate rigid terms with higher risk, while three in four (75 per cent) say they are more loyal to brands that provide clear options and adaptable conditions.
The new consumer contract has been described as the four pillars of flexibility by easyJet Holidays, with consumers increasingly demanding flexibility across payments, price, bookingand cancellation.
Close to four in ten (39 per cent) Brits say flexible booking or cancellation options is important to them when booking trips, with four in five (77 per cent) saying the ability to spread payments makes them more likely to go ahead with a big purchase.
Meanwhile, 43 per cent admit they have abandoned a transaction entirely when flexible payment options weren’t available.
With budgets under pressure, price flexibility also plays a critical role, with four in five (80 per cent) saying they would be more likely to book with a provider that offers a Best Price Guarantee.
The top three important factors for committing to a holiday booking include free cancellation (57 per cent), instalment payments (43 per cent) and price guarantees (40 per cent). This comes as 49 per cent say they’ve delayed or avoided booking altogether because dates couldn’t be changed easily.
While 30 per cent prefer to book well in advance to secure the best deals, 6 per cent say they favour keeping plans flexible and booking closer to the time. Regardless of booking habits, 65 per cent say they don’t want to feel tied down when it comes to making decisions.
Cancellation flexibility, meanwhile, is increasingly viewed as the ultimate safety net, with eight in ten (85 v) saying easy cancellation policies make them more likely to commit.
Stuart Wright, easyJet Holidays’ Customer Director, said: “Flexibility has become a defining factor in who people choose to spend with, which is reflected in the majority of Brits being more loyal to brands that offer clear options and adaptable conditions.
“In today’s competitive climate, the four key flexibility pillars of payment, price, booking and cancellation have never been more important. By building Ultimate Flexibility into our core proposition rather than treating it as an add-on, easyJet Holidays has positioned itself at the forefront of the flexibility movement and aligns with the mindset of today’s British consumer.”
easyJet Holidays Ultimate Flexibility means Brits can book a holiday with total confidence. From letting you pay in a way that suits you, to giving you the freedom to make changes and even returning your deposit if you need to cancel your booking