Money worries 'take high out of high street'

Tuesday, 30 March 2010 09:49

By myfinances.co.uk staff

Retail therapy is losing its appeal for many Britons, with 59% saying the pleasure has gone out of shopping, while 35% admit to feelings of guilt after splashing out on the high street.

Research by uSwitch.com showed that of those whose deal with the post-purchase blues, 48 per cent felt bad because they should be saving instead of spending, while 32 per cent thought they should be prioritising mortgage payments and bills.

Some 33% of shoppers said that they had hidden a purchase from their other half, while 35% have lied about how much they spent.

A further 17% claimed to have returned goods worth an estimated £32 million because of their guilt.

Ann Robinson, uSwitch.com director of consumer policy, said that the survey's findings suggest Britons' love affair with shopping is "beginning to pale".

"Instead of being a pick-me-up, a trip to the high street now only seems to bring them face-to-face with their financial worries, adding to their woes," she said.

According to Santander, 81% of Britons have made changes to their lifestyle to cut down on their spending in the wake of the recession.

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