What does this study measure?

It measures how UK discount codes are split between offers reserved for new customers — the "welcome" or first-order codes — and codes open to everyone, and how the two compare in headline percentage size. It is a snapshot of our live, verified catalogue at the time the page is built, not a claim about any single retailer.

Where do the figures come from?

Every number is derived from our own live voucher set, sourced from the Awin, CJ and Rakuten affiliate networks and filtered to codes marked verified and not yet expired. A code counts as new-customer-only when the offer is flagged as first-order or new-customer in the retailer feed. Nothing is modelled, estimated or fabricated.

How is the "welcome premium" calculated?

We compare the median headline percentage of new-customer-only percentage codes against the median of percentage codes open to everyone. Only percentage-type offers (for example "20% off") feed this figure; fixed "£ off" welcome offers, free delivery and other deals are counted separately, because turning them into a percentage would require assuming a basket size. Where a code states a ceiling ("up to 30%"), we count that stated headline figure, so the medians describe advertised headline rates rather than what a typical basket saves. A positive gap means welcome offers are deeper; a negative gap means everyday codes are.

Can I cite or reference this data?

Yes. The study is intended as a reference for shoppers and writers covering UK retail savings. Please attribute figures to MoneySaverCodes and link to this page, and note the date you accessed it, since the underlying data changes as codes are added, verified and expire.

How often is it updated?

The page regenerates as our voucher data refreshes, so the figures stay in step with the codes actually available on the site. We deliberately avoid promising a fixed sub-daily refresh cadence — the numbers simply reflect the live catalogue whenever the page is rebuilt.

Are New-Customer Discounts Really Bigger?

We compared every welcome code reserved for new shoppers against the codes open to everyone, to see whether first-order offers actually run deeper — as of September 2026.

535 live verified codes analysed

The Headline Numbers

Codes reserved for new customers

10%

Median welcome discount

15%

Median for everyone

Live welcome offers

Just 7% of the 535 live, verified codes in our database are reserved for new customers. Among offers expressed as a headline percentage, welcome codes carry a median of 10% off, against 15% for codes open to everyone — no welcome premium at all: codes open to everyone run 5 percentage points deeper, so loyalty often pays. Figures are drawn from the 30 new-customer and 191 everyday percentage codes live at the time of writing.

Welcome Offers vs Everyday Codes

Median headline percentage, side by side. Only percentage-type offers feed this comparison — fixed “£ off” welcome offers and free-delivery deals are counted separately, since converting them to a percentage would mean assuming a basket size. A code stating a ceiling (“up to 30%”) is counted at that stated headline figure, so these are advertised rates rather than what a typical basket saves.

New customers only

10%

Open to everyone

15%

Welcome offers also lean toward round percentages and generic deals: of the 40 live new-customer codes, 30 are percentage offers, 9 are non-percentage deals, 0 are fixed “£ off”, and 1 are free delivery.

PHORIA

10% off first order with WELCOME10 — London modular jewellery — sterling silver & 18ct gold vermeil

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Which Categories Reserve the Most Welcome Offers

Share of each category’s live codes that are gated to new customers, highest first. Categories with fewer than ten live codes are excluded so a thin sample can’t distort the ranking.

33%

15%

12%

The Biggest Welcome Offers Right Now

The deepest live new-customer percentage code per retailer, at the time of writing.

30%

20%

20%

15%

15%

15%

15%

15%

Methodology

Every figure on this page is computed from our live voucher database — the same set of codes shown across the site — filtered to those marked verified and not yet expired, as of September 2026. A code is treated as new-customer-only when the retailer feed flags it as a first-order or new-customer offer. Nothing is modelled, estimated or seeded.

The welcome-versus-everyone comparison uses only percentage-type codes, where a headline figure can be read directly; fixed “£ off” welcome offers, free delivery and other deals are counted in the type breakdown but excluded from the percentage medians, because converting them would require assuming a basket size. We report the median rather than the mean so a handful of unusually large offers can’t distort the gap. Figures change as codes are added, verified and expire, so please note the access date if you cite them. See also our UK Discount Code Index for how deep discounts run overall, our Code Lifespan Report for how long they last, our free delivery index for how common free delivery is, and read about how we verify codes.

First-Order Discount Codes

Browse the verified new-customer welcome codes behind this study

Discount Code Index

How deep UK discounts run, by size, type and category

Code Lifespan Report

How much validity is left in live codes before they lapse

How to Stack Codes

Combine codes, cashback and loyalty for bigger savings

Browse by Category

Fashion36 Jewellery21 Food & Drink14 Electronics37 Health & Beauty54 Sports & Outdoors29 Travel17 Home & Garden71 Gifts & Flowers25 Software & Streaming7 Pets7 Mobile & Telecoms14 Baby, Kids & Toys18 Books6

Frequently Asked Questions