26/08/2010
Almost a quarter of female shopaholics say they haven't changed their spending habits in response to the recession, according to a recent survey.
As reported by The Press Association, price comparison website uSwitch found that 4% of shopaholics say they have even been spending more to cheer themselves up!
It's good news for independent and chain retailers across the country, who could be maximising the potential that this spending presents. Using factoring services is just one method that a business can utilise to raise funds for expanding their business to cater to such emerging markets.
Women spend 300 on high street clothes a year and men spend 570; male shopaholics spend 338 a year on skincare and cosmetics, but women spend 191, according to The Telegraph.
According to The Guardian, 4 million women and 3 million men profess to being shopaholics. Ainslie Walker, head of operations and product development at Gentlemen's Tonic at Selfridges, said that sales in men's cosmetics and skincare haven't dropped during the recession. She said sales have plateaued because men are choosing to buy these products to invest in themselves.
However, shopaholics are turning to credit facilities to fund their shopping sprees, prompting financial experts to warn that consumers should be careful when indulging in their shopping passions.
Laura Nineham