The Battle of Online Spending Habits Between Men and Women

Baines & Ernst explore the differences between gender spending and how these habits contribute to insolvency levels in the UK, in their new Infographic – Men Vs Woman – Battle of Spending Habits.

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Baines and Ernst Infographic

At the end of June 2012, 311 purchases were made on credit cards every second. The daily balanced totalled an eye watering £1,289 billion!

(PRWEB UK) 29 October 2012

When it comes to shopping, anyone could be forgiven for thinking the biggest spenders are women.

This is probably true when it comes to the high street, but when it comes to the world of online shopping, would anyone be surprised to learn that it is in fact men who reign supreme?

Take a look around on a Saturday afternoon and town centres around the UK are packed with bored looking men hovering outside changing rooms. It seems these guys are just mere spectators in the shopping Olympics their girlfriends sprint through every week.

Sure, some have bags – but do those bags contain any goodies for them?

While girls love the ‘hands on’ experience of shopping, guys clearly prefer the laidback, from the armchair, kind of approach – with men spending 15% more than women online every year, with a total spend of £3,495.

So what are they spending their cash on? In this great Infographic ‘Men Vs Women – Battle of Spending Habits’, from Baines & Ernst, it shows that guys prefer to buy alcohol, travel, online entertainment and electrical products, while the ladies go for clothes, food and childcare.

Women spend on average £3,210 online every year - spending £315 more than men on clothing. And although they spend less than men overall, 85% of women are more likely to make an impulsive purchase.

According to Credit Action, at the end of June 2012, 311 purchases were made on credit cards every second – equating to a staggering £14,920 a second. The daily balanced totalled an eye watering £1,289 billion!

With numbers like this, it’s hard to believe the country has been in the grip of recession – so are debt levels decreasing? Are people financially better off nowadays? According to Baines and Ernst, it would appear not…

A spokesperson from Baines & Ernst says “In quarter 1, 2012, there were 60.9 million credit and debit cards in circulation in the UK, which would suggest that people are relying on credit on a regular basis to fund their lifestyle. Credit cards really should be used for emergencies – they’re not intending for long-term lending. So if people aren’t paying off balances straightaway, debt could build up.

“The average household debt in the UK is £53,613 – including mortgages, and the average personal debt is £5,949. So this proves that people are still struggling with debt. We wanted to do this Infographic to emphasise spending habits and how they could influence insolvency levels in the UK.”

So if men are doing all the spending, are they also influencing insolvency levels?

The Baines & Ernst spokesperson continues “In 2011, the number of Bankruptcies, Debt Relief Orders and IVAs were greatly defined by gender – with 60,764 men declared insolvent, compared to 57,937 of women. There were also some very interesting results according to age and location too.”

Whether debt is caused by gender or a debt hotspot in the UK, one thing is for certain – if the cash isn’t available to splash, don’t spend it!


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