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B&Q survey reveals 43% of Brits will regret sales splurges

Research from B&Q, the UK’s number one kitchen retailer, reveals that 88% of Brits plan to spree in post-Christmas sales this week. Amid the frantic sale scramble, a fifth (21%) will indulge in ‘big ticket’ investments like kitchens, sofas and cars. But with retail hype at its most extreme and 54% of us splashing out on items or styles we wouldn’t dream of buying if they weren’t reduced, it’s no wonder that 43% will later regret purchases.

Half of Brits (48%) confess that they are far from sale savvy, making impulse buys and rushed decisions. Never is this more treacherous than on ‘big ticket’ purchases.

MOST ALLURING OFFERS:

1. Half price
2. Final sale
3. Everything must go
4. Bargain bin
5. Extra percentage off

Many save all year round and then abandon their plans in favour of the first kitchen, car or bathroom they see on sale. Despite the magnitude of these buys, which come round just once or twice a lifetime, 47% of us admit to making a quicker than normal decision on ‘big ticket’ items under the pressure of promotions.

This feeling of succumbing to sales hype and compromising on big investments will cost more than £14 billion of UK post-sale regret, an average of £625 per household.

15% of sale shoppers will regret buying a high value item which didn’t even have the features they had originally intended to buy. 13% will be disappointed when so called discounted prices were not what they seemed.

Many shoppers will be caught out by the contradiction of ‘big ticket’ sales. Some retailers artificially inflate prices ahead of promotion periods so that they can later be slashed to entice people in, meaning that bargains available on the day aren’t as good as they may first seem.

BIGGEST SALE SLIP UPS

1. Splurging on more items than intended (33%)
2. Buying without trying on or looking in the box (18%)
3. Compromising on taste/style due to low prices (16%)
4. Forking out more cash than desired (14%)
5. Making rash purchase decisions on the spot (14%)

The research follows B&Q’s commitment to scrap yo-yo pricing and instead guarantee consistent, every day great value prices year-round. Unlike other retailers, B&Q customers can browse free from the falsely created pressure of time and avoid rushing into decisions caused by limited offers available during sale periods.

Our nation’s love of sales is evident as Boxing Day looms. Tomorrow, a fifth (20%) of shoppers plan to brave the cold, camping outside shops or arriving at 3am to queue before the doors open.

Body language and behavioural expert, Judi James, shares her tips for avoiding disappointment with purchases this season: “The effect of sales shopping on the body is similar to when our ancestors went out to hunt. Senses are heightened but adrenalin disengages the rational part of the brain; leaving you prone to spontaneous decision-making and excited by the pack effect. If you are braving the sales in hunt of ‘big ticket’ items then take note of the salesperson’s body language. A genuine bargain should make them happy to engage with you, so watch for eye-darts when you’re speaking, face-touching, fiddling with hands and curt replies as a giveaway of discomfort.”

William Ostrom from B&Q commented: “Sale shopping for ‘big ticket’ items is a risky business. Many people are tempted to spend large amounts in haste and end up repenting at leisure. By removing the pressure associated with limited sales deals and keeping our prices consistently competitive and low year-round, we now give our customers the time to make decisions which are right for their homes as well as their wallets.”

Source : B&Q Press Release

27 December 2014

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