UK adults spent more than £6.6 billion on pandemic purchases they no longer use

UK homes are host to regretted pandemic purchases worth more than £6 billion, according to a new study from Aviva.

Data taken from How We Live, an Aviva report published today, finds nine out of 10 (88%) of Brits spent money on “treat” purchases during the pandemic at a cost of more than £57.6 billion^* across the nation – on average, £1,205 per purchaser.

The most popular purchases were clothes and shoes, a choice for more than half of the UK population at 54%.

Gadgets and electrical goods were must-buys for millions of UK adults during the pandemic, with 34% of people buying smartphones or tablets, 18% splashing out on gaming equipment and 24% choosing kitchen equipment such as air-fryers or bread-makers.

Home gym equipment was snapped up by 16% of UK adults, while musical instruments were the order of the day for 8% of the population.

One in 20 adults (5%) say they bought a hot tub during the pandemic.

But now millions of UK adults are feeling a twinge of buyer’s regret.

The latest Aviva research suggests many of these items are gathering dust, with 9% of buyers saying they no longer use certain pandemic purchases, 11% confessing they used items less than expected and 8% admitting they didn’t use them at all. Other items have found new homes, with 8% of people either selling or giving away items purchased during the pandemic.

There are a range of reasons given for making these purchases. Most commonly – for two fifths of buyers – people say that they were going to buy items anyway and they just happened to do so during the pandemic.

However, other explanations include spending more time at home (27%), cheering themselves up (26%) and simply relieving boredom (20%).

Almost a fifth (17%) of purchasers point to having more disposable income after losing out on holidays and social events, while one in eight (13%) say they needed equipment for a new hobby.

Buyers’ biggest regrets

Amongst those who say they regretted items bought during the pandemic, gaming equipment was the most common culprit for buyer’s remorse – with almost half of purchasers (45%) regretting games and consoles.

Clothes and tools tied for second place at 43%, with home gym equipment close behind for (39%) of people who bought these items.

Home gym equipment is also the item which is most likely to no longer be used, at 49% of purchases made during the Covid outbreak. This is closely followed by musical instruments, with 48% of pandemic-buyers no longer using them.

The cost of regret is also significant. In fact, those who wish they hadn’t made purchases spent an average of £1,376 on regretted items – notably higher than the typical spend per person.

And with 10% of buyers admitting they have had second thoughts about these possessions, this adds up to a national tally of £6.6 billion^* of lamented spending.

Nicki Charles, GI UK&I Customer & Marketing Director, Aviva says: “So much has changed since the start of 2020. The way we work, how we interact with others – and it seems the contents of our homes too. Faced with weeks or months at home, many of us made purchases to entertain ourselves – often costing hundreds or even thousands of pounds.

“If people have made significant purchases for their home, it’s important that they check they have appropriate cover. Many insurers have a single item limit of around £2,000 for items in the home, so if anyone has splashed out on a lockdown purchase, it’s a good idea for customers to let their insurer know, in case it needs to be listed separately on their policy.

“Even if items are now gathering dust – and our research suggests many are – they may still be valuable, so it’s best to make sure cover is in place, particularly if there’s a chance of picking up that hobby again one day.”

-ENDS-

_Sources

_{Findings were taken from a survey of 4,003 UK adults, carried out by Censuswide Research on behalf of Aviva in September 2021.}

_{*Based on ONS population estimates of 54,353,665 million UK adults aged 16 and above.}

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