Research from B&Q reveals that 88% of Brits plan to spree in post-Christmas sales this week, and 21% will indulge in ‘big ticket’ investments like kitchens, sofas and cars.
With retail hype at its most extreme and 54% of us splashing out on items or styles, we would not buy if they were not reduced, it’s no wonder that 43% will later regret spending on Boxing Day.
48% confess that they are far from sale savvy, making impulse buys and rushed decisions. Never is this more treacherous than on ‘big ticket’ purchases.
Many save all year round and then abandon their plans in favour of the first kitchen, car or bathroom they see on sale. Despite the magnitude of these buys, 47% of us admit to making a quicker than normal spending decision on ‘big ticket’ items under the pressure of promotions with Boxing Day sales.
This feeling of succumbing to the sales hype and compromising on big investments will cost more than £14 billion of UK post-sale regret, an average of £625 per household.
15% of sale shoppers will regret buying a high-value item that didn’t even have the features they had originally intended to buy. 13% will be disappointed when so-called discounted prices were not what they seemed.
Many shoppers will be caught out by the contradiction of ‘big ticket’ sales. Some retailers artificially inflate prices ahead of promotion periods so that they can later be slashed to entice people in, meaning that bargains available on the day aren’t as good as they may first seem.
William Ostrom from B&Q commented: “Sale shopping for ‘big ticket’ items is a risky business. Many people are tempted to spend large amounts in haste and end up repenting at leisure. By removing the pressure associated with limited sales deals and keeping our prices consistently competitive and low year-round, we now give our customers the time to make decisions which are right for their homes as well as their wallets.”