Brits keep £6k in the closet!

Bargain-crazy Brits have been warned to think twice when the summer sales start later this month– because new research reveals shoppers waste an incredible £6,044 (on average) during their lifetime on unwanted clothes and shoes.

The research, commissioned by Scottish Widows, also found that over half (60 per cent) admit to ‘bending the truth’ about the cost of clothing they buy. When asked how often they ‘bend the truth’ about the cost of things they buy, 70 per cent of women admitted to having done this at least once. This was not restricted to women - over half of men (57 per cent) also confessed to hiding the truth about the cost of their shopping items.

Men may be more likely to wear the clothes and shoes they buy, but on the other hand they admit to wasting more money on their unworn purchases. When asked about how much they spend throughout their lifetime on clothes and shoes which are never worn, the figure added up to £6,241 for men compared to £5,846 for women.

The worst culprits in the country are Londoners – nearly two thirds (65 per cent) openly admit to bending the truth about the cost of their shopping. Shoppers in Scotland and the North came a close second with 63 per cent and 60 per cent respectively. The most truthful shoppers in the country are in the South (excluding London), the Midlands and Wales.

Young people aged 18 to 34 years old were the biggest shopping ‘wasters’, as they hoard an average of nearly £90 a year in their wardrobes. Shoppers in the 35 to 55 age group waste less money, with an average of just £68 worth of clothing gathering dust in the closet.

Mike Hoban, customer and brand marketing director at Scottish Widows, said: “Shopping may be fun but, as this study shows, a large proportion of the money we spend on clothes and shoes is going to waste in our wardrobes instead of staying in our wallets.

“Think about it – for the same cost of that absolute ‘must-have’ new top or trousers you spot in the sales this year, you could be putting some money aside for your future instead. By simply taking a few moments to consider whether you actually need to buy the item in the first place, you’ll be able to cut down on non-essential purchases and save lots of money in the process.”