17th September 2015
Going shopping with friends and family may well become a thing of the past for cash-conscience Britons as many are now complaining of going over budget when shopping with their loved ones.
A new study by TopCashback.co.uk, found more than half, at 51%, of shoppers admitted to spending more money when they are accompanied by others, compared to when alone.
The research found shopping with a partner hikes up costs the most. More than two-thirds of men, at 68%, said they spend more when out shopping with their wife or girlfriend. However men might be curbing their other half’s spending as 43% of women said they are most sensible when shopping with their partners.
The analysis also found that 23% blow more money when they are out shopping with their children. Mums are more prone to caving in to their children’s pleas, going over budget by 30%, compared to only 11% of dads who spend 20% more than planned.
Splashing the cash in the name of peer pressure is another culprit for abandonment of budgets. Just shy of a quarter of women, at 23%, admit to shelling out 20% more when on girly shopping trips. Perhaps somewhat surprisingly, men say they spend up to 30% more when browsing the shops with their friends.
Other key findings revealed:
Natasha Rachel Smith, consumer affairs editor for TopCashback says: “My top tip for consumers is to organise their spending by creating a budget before they venture out for shopping trips. Another safety-net is to leave credit and bank cards at home; only take the cash you plan to spend that day. Also, scanning all the shops first and then sitting down for a coffee afterwards to consider potential purchases can often give clarity on what you actually want and need. Finally, browsing on the high-street and then making the purchase online will usually save consumers money.”