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Brits waste billions on more tat
bo_drinker
Posts: 3,924 Forumite
Brits waste billions in January sales
by Rebecca Keary
High street shops may be booming as shoppers flock to bag a bargain – but consumers could be wasting vast sums of money on worthless purchases, according to new research. Are you one of them?
An estimated £5bn will be spent in the new year sales, according to financial services provider Bright Grey – but a whopping £2m of this is likely to be spent on things we don’t really need.
Shoppers, perhaps depressed by the gloomy weather and looking to cheer themselves up, are defying the credit crunch and splurging on unnecessary buys – which is great news for struggling high street brands, but could spell trouble for customers when the credit card bills thud onto the doormat.
More than half of the people surveyed by Bright Grey said they tended to shop spontaneously in the sales, while only 21% said they research purchases thoroughly online before buying.
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The research showed that men are the big spenders, forking out £56 more on average in the sales than the fairer sex, but women tend to buy more items that they never use.
In fact, an astonishing 57% of women have purchased clothes that haven't left the wardrobe since, according to Bright Grey, and 10% have even bought items a size smaller than their own, hoping to lose weight. Meanwhile, men make a beeline for the electronics departments, splurging on gadgets and TVs.
But are we putting our finances at risk? We are still in the grip of one of the worst recessions the country’s ever seen, after all.
"Christmas can be enough of a strain, without adding huge bills for impulse purchases in the sales," says Roger Edwards, proposition director at Bright Grey. "Games consoles, designer clothes, TVs – people always manage to justify these big-ticket items as being bargains.”
"The real shocker is the amount wasted in unsuitable purchases. It seems a lot of us are getting carried away with impulsive spending, but by simply cutting back a little we could put the money that's saved towards protecting our lifestyle and financial security in the event of a serious illness or prolonged time off work."
So how can you protect yourself from overspending – apart from staying away from the high street?
Next: Get paid to spend >>
by Rebecca Keary
High street shops may be booming as shoppers flock to bag a bargain – but consumers could be wasting vast sums of money on worthless purchases, according to new research. Are you one of them?
An estimated £5bn will be spent in the new year sales, according to financial services provider Bright Grey – but a whopping £2m of this is likely to be spent on things we don’t really need.
Shoppers, perhaps depressed by the gloomy weather and looking to cheer themselves up, are defying the credit crunch and splurging on unnecessary buys – which is great news for struggling high street brands, but could spell trouble for customers when the credit card bills thud onto the doormat.
More than half of the people surveyed by Bright Grey said they tended to shop spontaneously in the sales, while only 21% said they research purchases thoroughly online before buying.
cards and loans
Find a 0% card 9.9% Blackhorse loan Barclaycard Platinum
The research showed that men are the big spenders, forking out £56 more on average in the sales than the fairer sex, but women tend to buy more items that they never use.
In fact, an astonishing 57% of women have purchased clothes that haven't left the wardrobe since, according to Bright Grey, and 10% have even bought items a size smaller than their own, hoping to lose weight. Meanwhile, men make a beeline for the electronics departments, splurging on gadgets and TVs.
But are we putting our finances at risk? We are still in the grip of one of the worst recessions the country’s ever seen, after all.
"Christmas can be enough of a strain, without adding huge bills for impulse purchases in the sales," says Roger Edwards, proposition director at Bright Grey. "Games consoles, designer clothes, TVs – people always manage to justify these big-ticket items as being bargains.”
"The real shocker is the amount wasted in unsuitable purchases. It seems a lot of us are getting carried away with impulsive spending, but by simply cutting back a little we could put the money that's saved towards protecting our lifestyle and financial security in the event of a serious illness or prolonged time off work."
So how can you protect yourself from overspending – apart from staying away from the high street?
Next: Get paid to spend >>
I came in to this world with nothing and I've still got most of it left. :rolleyes:
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Comments
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People are always buying things they don't need - that's why adverts were invented.
I wonder how many people didn't need to buy a new bed after Christmas, but thought they should get in there before the VAT went back up.0 -
My main expenditure, is fuel for me car.
Because of the snow, its gone nowhere.
As a result, since christmas day, I have spent the princely sum of zilch!
I'll fight those inflationary pressures all on me own...
Who's with me?It's getting harder & harder to keep the government in the manner to which they have become accustomed.0 -
You don't eat?!!! Wow, that is moneysaving.“The ideas of debtor and creditor as to what constitutes a good time never coincide.”
― P.G. Wodehouse, Love Among the Chickens0 -
Thought this was a very fair assessment of the sexes - in my own limited experience anyway.bo_drinker wrote: »The research showed that men are the big spenders, forking out £56 more on average in the sales than the fairer sex, but women tend to buy more items that they never use.
In fact, an astonishing 57% of women have purchased clothes that haven't left the wardrobe since, according to Bright Grey, and 10% have even bought items a size smaller than their own, hoping to lose weight. Meanwhile, men make a beeline for the electronics departments, splurging on gadgets and TVs.
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I bought some researchers for Christmas.
I thought they were important, but turns out just more "tat".0 -
Mrs nollag, alone, spends billions on tat.0
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I have no tat. I am tat-less.0
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I bought a nifty little LED alluminium torch (lights the whole garden up) from Millets for a £5, that is my impulse buying over for the year
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0
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