September 2012
Featured in this insight: Consumer goods & FMCG , Financial services, Retail
Market research finds Britons throwing money away on unnecessary goods: A recent survey by MyVoucherCodes.co.uk has revealed that on average, every British adult spends £79,608 over the course of their lifetime on purchasing unnecessary items.
In total, the normal Brit will throw away around £107 per month or £1,284 per year buying things in the UK that they simply don’t need.
The survey respondents were also questioned on the unnecessary purchases they buy – 68% spent their money on chocolates, snacks and other sweets, over 50% bought takeaways, and around 36% of the surveyants couldn’t resist buying clothing and accessories, including beauty products, CDs, DVDs, computers and games on their mobile phones.
Mark Pearson, Chairman of MyVoucherCodes.co.uk, commented on this testament to how Britons spend most of their income while being unaware just how much of it is lost to items they don’t need: “It can be so easy to lose track of spending when it’s on small items like a quick snack here and there, or the odd CD. Although those individual items might not seem expensive, the cost soon mounts up and before you know it you can easily have spent a small fortune with not a lot to show for it.”
He advised: “Keep an eye on your spending throughout the month and ask yourself if you really need to buy something before you part with your cash. An action as small as being more aware of your spending can help save money in the long run.”
View more of our sector specific insights: Consumer goods & FMCG, Financial services, Retail
