A quarter of smokers believe the money they could save from quitting the habit would be “life changing.”
And a third feel guilty about the amount they spend on cigarettes.
But 26 percent reckon they will be forced to try and quit if the £1 threshold is crossed due to the cost.
Perhaps counter-intuitively, a quarter of smokers regard the idea of a £1 cigarette a bigger psychological trigger to push them to quit than the idea of paying £20 ($25) for a pack of 20.
The findings are part of the “IQOS No Smoke Index,” an ongoing research project designed to better understand the challenges faced by UK smokers attempting to quit cigarettes.
Harry Wake from IQOS, a tobacco heating system that unlike cigarettes produce no fire, ash or smoke, said: “The cost of cigarettes is clearly a huge factor for many smokers seeking cheaper and less harmful alternatives.
“The research shows there’s definitely a psychological trigger in paying more than a pound for a single cigarette and it looks as though rising costs will naturally push people to the limits of what they can afford to pay for a habit, and it is getting to the point of not being sustainable.”
The research also revealed 24 percent believe price is a big factor in whether they continue to smoke while 16 percent admit that their family would notice the financial benefit if they stopped smoking cigarettes.
Other triggers to try and quit according to the index, conducted via OnePoll, would be if a child or grandchild asked them to – or if a partner pleaded with them to do so.
More than four in 10 (41 percent) have already attempted a switch to vaping to try and cut smoking, while 32 per cent have tried nicotine patches and 27 percent with gums or lozenges.
However, 39 percent of smokers admitted to using no aids or methods during their last quit attempt instead choosing to go “cold turkey,” but only nine per cent managed to stay off the habit for longer than a month.
Harry Wake, from IQOS, added: “While everyone knows the best choice any smoker can make is to quit tobacco and nicotine products completely, for those that don’t, switching completely presents less risk to your health than continuing to smoke.
“Of course, it’s easier said than done when it comes to stopping smoking, but the benefits are there for all to see – health and wealth, it’s a win-win all round.”
Produced in association with SWNS Talker