Sale of the century: Scots more likely to buy when there's a sale

26th August 2014

*Three-quarters say they're more likely to make a purchase if they spot an item that's reduced

*Being on holiday also found to loosen purse strings

*1 in 5 respondents say payday increases the likelihood they'll spend

Spotting a bargain is the thing most likely to convince Scottish people to spend their money if they had not already been planning to.

A new survey* conducted on behalf of Debt Advisory Centre Scotland revealed that nearly three-quarters of Scottish respondents (72%) admitted seeing an item was marked down or in the sale was the scenario that made them more likely than normal to get their spending money out. However, while on the surface buying a reduced-price item may make people feel like they are saving money, if they were not planning to spend the cash in the first place they will actually be out of pocket.

Bagging a bargain was not the only scenario that encouraged people to spend. Nearly a third (29%) of respondents in Scotland revealed they are more likely than usual to go on a spending spree when on holiday. This may be because being away from home makes them feel like treating themselves, or they might simply feel more relaxed, and so take a relaxed attitude to their finances too.

Payday was another situation that prompted many Scots to drop their guard when it came to spending. More than one in five (22%) said the knowledge that their wages had gone into their account made them more likely than normal to spend.

While Scottish respondents were susceptible to all these triggers, actual advertising had less of an effect on their decision to spend. Reading a product recommendation in a magazine prompted just one in 10 (9.4%) respondents to consider spending, while seeing the item endorsed on television or online by a figure the viewer admired made only 6.3% of those polled say they would be more inclined to splash the cash as a result.

Ian Williams, spokesman for Debt Advisory Centre Scotland, says: "It appears many people in Scotland are not as susceptible to advertising and product placement as marketers think. In fact, something as simple as spotting a bargain is often enough to make people more likely to spend.

"However, splashing their cash when they hadn’t intended to could be risky if it turns into a regular habit. For one thing it makes budgeting very difficult, and it could also lead to an over-reliance on credit. By carefully sticking to a budget, Scottish consumers can avoid an unpleasant surprise when they receive their bank statement."

www.moneyadviceservice.org.uk