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UK consumers spending significant amounts on ‘impulse buys’, survey reveals

A survey carried out by online lending company myjar.com has revealed that individuals in the UK spend nearly £144,000 on impulse buys over the course of their lifetime.

The survey questioned 2,000 individuals, and found that the average consumer spends £200 a month on items such as sofas, clothes, confectionery and fast food.

Four in ten revealed that they use retail therapy to cheer themselves up, whilst one in five admitted to booking a holiday spontaneously.

Over the course of their life, an individual will spend £17,807.80 on food and £18,393.91 on clothing, the survey suggested. It also found that 6,512 unplanned purchases will be made during a person’s lifetime.

Commenting on the findings, a spokesperson for myjar.com said: ‘These impulse buys may seem innocent at the time. But this survey exposes how the accumulation of unplanned purchases can add up and be devastating to your budget and savings over time.

‘If this money went into savings instead of being spent needlessly, we would all be £143,902.33 better off over our lifetimes.

‘This would leave people more money to invest into things like education, our homes and a more ambitious retirement fund.’