Impulse purchasing is on the rise

People in the UK are acting on impulse to buy an average of 11 items a month, according to new research.

Fear of missing a deal ‘FOMAD’ is driving these purchases according to Quidco, with people buying items purely because they are on sale.

This is driving 44% of people online and 52% of people in-store to such purchases; with the total spend on impulse purchasing averaging £133 a month.

When deciding whether to buy something, nearly half of Brits said they looked at potential savings while just 43% said they give any consideration to whether they actually need it.

One in ten people buy just because of a discount while 8% said misleading deals has tricked them into making a purchase they otherwise may not have made.

Only a third of people said they would go away and think about a deal before making a purchasing decision.

Ladies were also deemed to be 18% more likely than men to share the news of their deals while a quarter of women said they get a buzz from finding what they deem to be a bargain.

The study also revealed just 18% of shoppers would not be bothered if they saw an item on sale after they had purchased it.

However men were significantly more laid back than women, with 25% of men compared to 12% of women revealing they wouldn’t be concerned.

Missing out on a deal would make 26% of people angry although this figure increased to 33% among women while 32% said doing sufficient research would be needed to avoid any levels of annoyance.

One in five Brits has taken an item back and purchased it from elsewhere in order to make a saving while 10% have taken it back only to purchase it in the same shop for less.

Money management is vital in order to ensuring available funds are available for purchases, especially in situations where unexpected expenditure is unavoidable.

Large costs such as boiler replacement or car repairs can stretch even the best budgets, but a payday loan lender could offer short-term assistance, provided that repayments can be made on time.