A large population of shopaholics across the UK have been unaffected by the recession, research has recently shown. Approximately 24 billion pounds of unsecured debt has been amassed during the downturn, according to the website Uswitch.
About 7 million men and women combined have focused primarily on fashion during the recession to get their shopping fix.
Anne Robinson, head of consumer policy for Uswitch.com, commented on the fact that some consumers have just ignored all the recent warnings, saying: “Despite the financial constraints, women have carried on copying the lifestyles and shopping habits of their idols and ignoring the debt they are racking up in the process.”
Approximately 4 per cent have even been irresponsible in their behavior as much to say they are spending to “cheer themselves up”. They are using the latest bad economic forecasts to fuel their indiscretionary trips to the shopping centres.
An estimated 76 per cent of men and women alike run up their debt on things like clothing, accessories and grooming.
Ainslie Walker, head of operations and product development at Gentleman’s Tonic at Selfridges, believes the recession has affected many industries, but not the male grooming industry. He has seen numbers for the industry hit a peak, but no valley. He believes males feel that better grooming leads to better presentation in job interviews, so the grooming is looked at not as a luxury, but almost as a necessity.
The Uswitch research also found that, for a lot of people, being in grave debt is just an accepted way of life. They have also learned that if they hide the habit, there is greater chance they wont be judged.