Britons 'waste billions' in the January sales

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Britons 'waste billions' in the January sales

Wed 13th Jan 2010

British adults will spend an estimated total of £5 billion during the January sales this year, although many will grow to regret their purchases.

A poll by Bright Grey found that 54 per cent of people who hit the sales believe they will make spontaneous purchases.

However, 66 per cent of women questioned and 48 per cent of men stated that they had made purchases in the past which they had come to regret.

This works out to be an estimated £2 billion worth of purchases that consumers will have second thoughts about buying.

Roger Edwards, proposition director at Bright Grey, said: "It seems a lot of us are getting carried away with impulsive spending, but by simply cutting back a little we could put the money that's saved towards protecting our lifestyle and financial security."

Another concerning statistic from the financial group is that adults with families underestimate their monthly expenditure on essential bills by as much as £964.

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