One4all survey reveals that people believe shopping with gifts cards is guilt free but procrastinate over spending them.
The survey of almost 1,000 people and conducted by One4all Gift Cards to celebrate Shoppers Week, which runs from 24th May – 3rd June, reveals trends on the spending behaviours of the Irish public.
One in three Irish people consider shopping with a gift card completely guilt free and experience no buyer'r remorse after spending with them. However four in ten people procrastinate over spending them leading the 'Shopping Hyperopia' according to leading behavioural psychologist, Allison Keating.
One4all teamed up with behavioural psychologist, Allison Keating to get a further insight into the spending behaviors of Irish shoppers. Commenting on the findings, Allison says,
“It interesting to learn that there is €25 million worth of unspent One4all gift cards in circulation because the results show that people enjoy guilt free shopping with gift cards yet they are not doing it”
“This is called cognitive dissonance when you say one thing but you do another. While people enjoy guilt free shopping they procrastinate over spending their gift cards so as not to waste them. An initiative like Shoppers Week will hopefully bring about behavioural change to encourage shoppers to use their cards.”
The majority of us regard gift cards as an excuse to splash out on an ‘extra special’ or ‘high value’ item while one in three use gift cards to buy multiple treats. Only a small number of us (3%) use gift cards for everyday items and necessities.
Almost 40% have used the line ‘I bought it with my gift card’ to excuse a shopping extravaganza.
Interestingly, the One4all Shoppers Week survey reveals that because the recession has impacted on how often we buy treats and luxuries, we cherish gift cards and prefer to spend them on items we lust after rather than waste them on unwanted purchases.
Not surprisingly, the majority (60%) of people say they are most likely to spend a gift card on themselves rather than treat others with it! Clothes, closely followed by beauty products and treatments top the list of indulgences people spend their gift cards on.
One4all’s survey results may shake up common belief about men’s attitudes to shopping with over half of the men surveyed (56%) state they really enjoy shopping, 42% of men describe themselves as ‘necessity shoppers’, 27% say they always have a budget in mind before they make a purchase while 35% of women describe themselves as ‘impulse buyers.’
Ireland proved to be an honest nation with very few secret shoppers among us as the survey reveals only 16% of people have lied about the amount on their gift card in order to excuse a big shopping spree!
Michael Dawson, group CEO of One4all commenting on the findings says,
“We conducted the research to gain a better understanding of how people spend their gift cards and I am delighted to see that One4all Gift Cards are spent on personal treats and luxuries. That is what they are intended to be, a gift to spoil you.”
Dawson continued, “There is €25 million sitting in unspent One4all Gift Cards and we really want to encourage people to get out there during Shoppers Week and spend their gift cards especially while there are extra rewards up for grabs.”
During One4all Shoppers Week, from 24th of May until Monday 3rd of June, One4all has teamed up with participating retailers around Ireland to offer extra rewards like discounts, promotions and add-ons to encourage shoppers spend their One4all Gift Cards. Participating stores include, Debenhams, Oasis, Vero Moda, Woodies, Jack & Jones, Mothercare, Kilkenny Shop, PC World/Currys, Leisureplex and many more.
- One in three people consider shopping with their gift card as guilt free and have no buyer’s
- 40% don’t want to ‘waste’ their gift card and save it until they see something they really like
- 88 % say the recession has impacted on how often they buy treats or luxuries
- 60% of people spend gift cards on themselves
- 35% of Irish shoppers buy something extra special with their gift cards
- €20 is the minimum amount we feel comfortable giving on a gift card
- Only 17% of people are secret spenders with their gift card
- Over one third of shoppers are impulse buyers
- Almost 40% have excused a shopping spree with a gift card purchase