Brits spend £1000 on impulse purchases every year
A new survey has found that the average Brit will spend £1000 on spur-of-the-moment purchases every year, with nearly 60% of us admitting to as many as five impulse purchases per week, a staggering 260 snap purchases a year.
Online shopping has increased the temptation for impulse buyers according to the survey, with the UK spending £200 more online than in-store on impulse buys. Millennials are amongst the biggest culprits, with a quarter of 22 – 25 year olds admitting to having spent over £1000 on rash purchases.
The spending habits research, conducted by St. Albans-based Gallery Rouge, found that of the 260 items bought on a whim, the fashion industry thrived most from online shopping, accounting for one third of all impulse purchases. Other expenses include:
- Fashion – 33%
- Tech and gadgets – 22%
- Home décor / art – 17%
- Holidays – 12%
- Jewellery – 7%
Men have a weak spot for tech, with 50% of male respondents stating that tech was their biggest whim purchase. For women, 45% stated that it was fashion that topped their list.
Trend expert, Daniel Levine said, “Mobile shopping has compressed the time between thought, desire, and purchase. Think about it: You have the thought that you might want something. You can immediately look it up online, decide that you want it and click the ‘buy’ button.”
Gallery Rouge conducted the survey as it launches its Visualiser app – the leading
gallery customer experience app of its kind to show a 3D model of the art in the home before purchase. Visualiser allows art to be bought online without shoppers running the risk of the new piece not fitting in the home when received.
Kuldip Chohan, Managing Director of Gallery Rouge, said, “There is a growing comfort in buying more valuable objects online. Our aim is to help people buy with confidence and helping someone visualize the artwork on their walls in real time and real size is a massive plus.”
The launch of the app helps improve the purchase experience, says Kuldip; “Nothing beats seeing artwork in the flesh. What Visualiser does is allow individuals who may not be close to the gallery stocking the piece to ‘try before they buy’. We’re reducing the risk of getting it wrong, and the resulting buyer remorse. If you spend £1000 on a piece of artwork, you want to make sure it works in your space.”
To find out more visit: http://www.galleryrouge.co.uk/galleryrouge-app. Full survey results are available on request.
About Gallery Rouge
Gallery Rouge is one of the UKs leading destinations for original artwork. Collaborating with independent artists from around the world, the gallery is recognised for identifying and promoting exceptional art from both established and emerging talent.