Brits spend hundreds on impulse
(24 January 2008)

Bargain-loving Brits are spending hundreds each year on "impulse" purchases, it has emerged.

Research by Swiftcover.co.uk suggests that 91 per cent of people made a regrettable purchase in the past 12 months, with as many as two thirds making three or more impulse purchases.

The survey also revealed that people are abandoning "sensible shopping habits" in their pursuit of a bargain, with seven out of ten respondents admitting to not checking returns policies before making a purchase.

A further 21 per cent of Brits admitted to making impulse purchases because of the ease of shopping with a credit card.

Tina Shortle of swiftcover.com, said: "Whether it's a pair of killer heels, or the latest 'must-have' gadget, it seems that we’re addicted to spending now, paying later.

"But that means that we've also dropped our guard when it comes to 'sensible' habits like shopping around and as a result we are getting stung by shops’ returns policies."

Meanwhile, Callcredit has predicted that 500,000 Brits will take out a short-term loan in January, in order to afford the excesses of Christmas.