LOS ANGELES, May 1, 2019 /PRNewswire/ -- Slickdeals, the leading crowdsourced shopping platform, commissioned a survey of 2,000 Americans, that revealed more than half of Americans say they feel guilty about spending money.
The statistics emerged in a new survey which found that no matter what they are buying, consumers feel a twinge of guilt, especially when they are paying full price. Of those who admitted to feeling guilty when spending money, only 5 percent said they do not feel remorse buying something at retail price. The same respondents also said they feel guilty one in every five purchases, and guiltily spend $89 each week; or $277,680 in their adult life time.
The survey, conducted by OnePoll on behalf of Slickdeals, found that the top reason consumers feel guilty about buying something is because they later stumble upon the same item at a better price (57 percent). The second biggest reason was because there could have been a better use of their money.
So what do consumers feel guilty spending on exactly? The biggest purchase is treating oneself to a nice meal out (47 percent), with clothes following next (46 percent), and shoes rounding out the top three (35 percent). One in five Americans said they feel guilty when they take a trip to the grocery store, with 16 percent saying they feel the same when purchasing health products. Another one in three Americans reported feeling a pang of guilt when they buy alcoholic drinks; and one in four said they feel guilty about spending money on their passions.
Americans feel so guilty about spending money on themselves that four in ten (39 percent) have put off replacing a broken essential home appliance out of guilt, with the average American saying they have put it off for 14 weeks.
However, while spending money can certainly be a guilt-inducing experience, the results of the survey showed that there are a few exceptions. In fact, 85 percent report finding the weight of guilt lifted off their shoulders when the thing they are buying is at a discounted price. The magic number? Twenty-three percent off, according to the poll.
"The survey shows that guilt is pervasive among shoppers today," said Josh Meyers, CEO of Slickdeals. "However, it also highlights the importance of getting a discount when it comes to guilt-free shopping. When consumers are informed and confident that they have found the best deal, they are far less likely to experience guilt."
While spending money can certainly be a guilt-inducing experience, the results of the survey showed that there are a few exceptions.
Fifty-six percent, of those who normally experience guilt over spending, feel less guilty when they are buying an experience as opposed to an object.
Likewise, the results showed that 70 percent of guilty buyers feel less guilty about spending money if it is for somebody other than themselves.
"Spending money – whether on life's essentials or a fun indulgence – should not make people fraught with guilt," added Meyers. "As the leading crowdsourced shopping platform, Slickdeals transforms age-old buyer's remorse into happiness, excitement and pride in knowing you got the best deal."
Additional survey data showed:
TOP 10 THINGS AMERICANS FEEL GUILTY SPENDING ON
Going out to eat
Electronics (TV, phone, etc.)
Vacation and travel
10 PURCHASES THAT AMERICANS SAY MAKE THEM HAPPY
Food at my favorite restaurant
About Slickdeals: Slickdeals is the leading crowdsourced shopping platform, where 11 million users interact to share the most up-to-date information on online shopping deals and coupons. Through the power of crowdsourcing, Slickdeals has saved members over $6 billion by providing a forum for communication, as well as shopping tools such as its free Android or iOS apps. Slickdeals consistently ranks in the Top 100 most visited sites in the U.S. per Alexa.
To read more money-savings tips and newsworthy coverage on Slickdeals, visit the company blog at: slickdeals.net/news/.