Insight: Brits spend almost £1BN on unwanted presents, with 1 in 3 gifts left returned due to lost receipts – Voucher Codes
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Poor decision making and impulse buys will leave a whole host of presents going to waste at major national expense, according to research revealed today.
The findings released by VoucherCodes.co.uk have discovered that Brits are expected to spend £961.97m on presents that will remain unused this Christmas. The research discovered it’s the nation’s ladies that are most likely to be left feeling a bit flat – three-quarters of women (77%) will unwrap a present they won’t ever use this year, compared to two-thirds of men (66%). Half of women (51%) believe they’re good at hiding their disappointment when opening Christmas presents and almost a third (29%) confess they’ve returned a present without the person who bought it even knowing.
One in three people (33%) across the UK have been left unable to return a Christmas present as they weren’t provided with a gift receipt. With the average such gift costing £35.50, this is the equivalent of £623.92m spent on wasted presents across the UK. Indeed, a quarter of presents left unreturned (24%) cost more than £50.
Boxing Day madness
Research has discovered that half of 16-34-year olds (47%) plan to overcome their food comas by going shopping on Boxing Day. The average young adult expects to spend £94.90 on goods that Santa had clearly forgotten just a day previously – and believes to be rewarded for their efforts by saving 27% on pre-Christmas prices. In contrast, although just one in five (18%) over the age of 35 brave the cold to hit the shops, those that do intend to spend £100.50.
Londoners are the nation’s biggest lovers of Boxing Day shopping. As many as two out of five (41%) plan on heading out with the intention of cashing in on the sales, with the average shopper planning to spend an incredible £125.90. In contrast, just a quarter of people (25%) in the North East will go shopping on Boxing Day and they will spend just £70.
Anita Naik, Lifestyle Editor at VoucherCodes.co.uk, said: “We’re seeing Brits are extremely generous with both their time and resources when it comes to presents for loved ones at Christmas. However, the research has highlighted we’re overspending by purchasing unnecessary presents that will end up back in shops come January or, even worse, languishing at the bottom of a drawer never to be used. Crucially, always keep the safety net of a receipt in case we make a mistake and we can console ourselves knowing it’s more than the thought that counts.”
