Clever Online Shopping Tool Launched to Combat the UK’s £1.06 Billion Impulse Spending Problem

  • New ‘Icebox’ Google Chrome plugin from finder.com helps consumers to adopt more considered purchases
  • 78.2 percent of Brits confess to impulsive online shopping
  • Brits spend £32.69 per session on average on online impulse buys
  • Tool allows consumers to put their basket items ‘on ice’ with major retailers including ASOS, Next and Topshop.

Icebox is an online shopping tool newly launched in the UK to help consumers adopt more considered purchases.

Launched by price comparison site, finder.com, Icebox is a Google Chrome plugin that allows consumers to put their online basket items ‘on ice’ for more time to consider their purchases. The Icebox plugin either replaces the ‘buy’ button or works as a pop-up on over 400 of UK’s top online stores including ASOS, Next and Topshop.

78.2 percent of Brits admit to impulsive online spending

The launch of Icebox follows research from finder.com that revealed 78.2 percent of British adults have fallen prey to impulsive online shopping, totalling to the tune of £1.06 billion of spending each year. According to a study of over 2,000 adults, Brits spend around £32.69 on average during each impulse spending session. Over 1 in 5 Brits (22.9 percent) make impulsive purchases every week.

Of those admitting to an impulse online purchase, over 1 in 4 (25.7 percent) said they felt a sense of regret post-purchase. Icebox allows consumers to not only shop around, but to also set the cooling-off period for time to think about whether they should buy their desired items.

Jon Ostler, CEO of finder UK said: “So many of us are guilty of that late-night impulsive online purchase that we may not have had the budget for. Icebox is a useful tool for smarter shopping, giving you the opportunity to shop around for the best prices as well as keeping it on ice until your next pay day. Icebox is featured on UK’s top online retailers to revolutionise how people can window shop online.”

Please find key demographic stats below and the complete report can be found here: https://www.finder.com/uk/impulse-buying-stats

  • 78.2 percent of Brits make impulsive purchases online
  • Of these shoppers, 64.9 percent do so at least once a month, 22.9 percent impulsively shop weekly
  • On average, Brits spend £32.69 during each impulsive shopping session

Gender

  • Interestingly, men impulsively shop online more frequently than women, with 66.4 percent of men doing at least once a month compared to 63.4 percent of women
  • 9.5 percent of men splurge every day compared to 4.8percent of women
  • Males spend £36.97 per online impulse session, compared to women who spend £28.61
  • Women have a greater sense of post-purchase regret, sitting at 29.3 percent compared to 21.8 percent for men

Generation

  • Millennials shop online more frequently than any other generation, with 81.3 percent doing so at least once a month. Gen Xers follow at 68.3 percent, and Baby Boomers come in last at 49.6 percent
  • Nearly 1 in 5 Millennials (18.7 percent) conduct an impulse shop every day, compared to 5.1 percent of Gen Xers and just 1.8 percent of Baby Boomers
  • Millennials lead the way with online impulsive purchases at £38.33 per session on average, followed by Gen Xers at £31.39 and Baby Boomers at £30.51
  • Millennials are also most likely to feel contentment after their impulse purchases, sitting at 49.0 percent, followed by Gen Xers at 40.0 percent and Baby Boomers at 31.8 percent
  • Gen Xers are most likely to experience regret (30.5 percent), followed by Millennials (33.5 percent) and Baby Boomers (16.0 percent)

Region

  • Those residing in the North East lead the way for daily online impulse buys (16.3 percent), followed by London (11.5 percent) and the East Midlands (8.3 percent)
  • Those residing in London (£49.84), West Midlands (£37.72) and the North East (£37.31) spend the most per session online
  • Those spending the least per online session reside in the South West (£24.73), Wales (£25.88) and East of England (£26.25)
  • Of qualifying regions, those most likely to experience contentment: the North East (45.7 percent), Scotland (44.5 percent) and London (43.5 percent)
  • Regions most likely to experience regret: Wales (33.8 percent), London (29.5 percent) and the South West (29.1 percent)

-Ends-

Notes to editors:

  • Jon Ostler, CEO (UK) at finder.com is available for comment, opinion or interview regarding Icebox.

For further press information, please contact:
Yasmine Triana/Aaryn Vaughan
Rooster PR
T: +44 (0)20 3440 8930
E: finder@rooster.co.uk

About finder
finder, Australia’s #1 comparison site, launched in the UK in February 2017.

Founded in 2006, finder has over three million MUUs and has helped consumers make 15 million decisions over the past decade.

finder is entirely independent, offering consumers unbiased content, comparisons and, wherever possible, a full market view.

So much more than just a comparison site, finder provides in depth guides, advice and editorial content to help consumers better understand all the options and products available.

Committed to educating and empowering consumers to make informed choices and ultimately, to make savings, finder’s success is based on the provision of up to date and relevant information supplied by dedicated, round the clock research teams.

Categories currently available in the UK include money transfers, travel money, gas & electricity, mobile, broadband, and TV streaming. New products (including insurance, credit cards, loans, mortgages and pensions) will be rolled out over the coming months.

finder now operates in 10 countries including: the UK, Australia, New Zealand, USA, Canada, Hong Kong, Singapore, Chile, Spain and Mexico, and employs over 120 staff worldwide.