Retail staff top league table for personal debt.
Retail Trust, the national charity for the retail industry and which offers advice from counselling to financial and legal assistance, commissioned a survey during Retail Trust Week to identify the nation’s shopping habits and key motivating factors behind the UK’s favourite past time. Findings revealed that nearly a quarter of the country seek stress relief from a trip to the high street, and 40% of 18-24 year olds are the most likely to shop in order to reduce their stress levels than any other age group.
People working in service industries, such as hotels and restaurants are almost twice as likely to buy to alleviate stress than any other profession. And individuals living in Wales ranked the highest in terms of stress related shopping, beating London and the West Midlands. The remainder of respondents shopped for pure enjoyment and retailers came out top of this category despite the fact they are working in the environment nine to five.
As our days lengthen due to increasing work loads and demands at home it appears there is a strong move towards shopping becoming an early morning activity across the country. Apart from the obvious shopping sprees at the weekend, 14% of men and 22% of women are taking advantage of earlier opening times to get to the shops. Once again retailers alongside individuals in agriculture seem to be the early birds.
Results also identified that men are more likely to be in debt than women, with 32% of them owing up to 20% of their income. People living in the West Midlands and the North East appeared to have the highest levels of personal debt, compared to Yorkshire and the North West, which registered at the lower end of the scale.
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