One in 10 people have expressed their regret in a survey over their pandemic purchases.
The COVID-19 pandemic and subsequent lockdowns led to a huge surge in consumerism, with people buying items ranging from kitchen equipment to hot tubs in isolation. Many of these items were products that could be enjoyed in the home or garden with their household.
Many pandemic purchases centred around comfort and home fitness as we were confined to our houses. Then we add in the DIY tools to assemble these purchases and online shopping sprees to create a whole load of pandemic purchases.
For many people who did splash out during lockdown with a new purchase for themselves or their homes, buyer’s remorse has set in as we return to the office. Those who are now experiencing buyers remorse spent on average £1,376 on items they regret buying during the pandemic.
The survey of over 4,000 people found that some people have already sold or given away their lockdown purchases that had started to gather dust. These items included everything from gaming equipment to pizza ovens, and musical instruments to jewellery.
Each person that stated they regret some of their pandemic purchases had their own reasons for splashing out, but many cited relieving boredom and cheering themselves up as reasons for their spending.
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Nicki Charles, a customer and marketing director at Aviva, said:
“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.”