Brits to splash out £7.6bn in end-of-year sales

Research reveals that more than half (55 per cent) of residents in the South West are planning to spend £185 each during this year’s winter sales.

Despite being more than a month into the frenzy of Christmas shopping, there appears to be no slowdown in bargain hunters’ thirst for a good deal. According to new research by www.TopCashback.co.uk more than half (55 per cent) of residents in the South West are planning to hit the end-of-year sales spending, on average, £185 each. This equates to a huge £7.6 billion national spend.

The love for low prices is well and truly imbedded in British culture as the majority (62 per cent) of residents in the South West describe themselves as bargain hunters and 14 per cent even devise a sale shopping strategy to secure prime positions in queues to combat over-crowded stores.

More than a third (38 per cent) of shoppers have saved up money to spend in the winter sales, 18 per cent of whom began saving from as early as January. In a bid to minimise overspending, 46 per cent of residents will be putting a strict budget in place for the end-of-year sales. However, temptation may prove too great as more than half (51 per cent) admit to going over-budget in the past.

Whilst 30 per cent of residents will spread the cost of winter sale shopping by using their credit card, just shy of a third (31 per cent) will be taking the pressure off their wallets completely by using money received from Christmas gifts.

The research also lists South West residents most sought after sales items, placing clothing at the top (86 per cent), followed by electricals (52 per cent) and home furnishings (33 per cent).
However, not everyone is such a fan of the winter sales. Of those who will not be shopping in the sales, more than a third (35 per cent) prioritise saving money instead of spending and 14 per cent don’t think the discounts are as good as the other sales that happen throughout the year.