Millions of Brits ‘spend to relieve stress’

Figures compiled by YouGov for the Retail Trust charity show that close to a quarter of people around Britain take a trip to the shops in an effort to ease their anxiety and young adults (18 to 24-year-olds) are the most common stress-relief spenders.

Furthermore, working in the retail sector does not appear to lead to conservative spending habits, as eight per cent of shop staff have revealed that they owe 71 per cent or more of their annual income to creditors.

Retail Trust chief executive Nigel Rothband said: “It is estimated that an astonishing one in five people in Britain work in the retail industry and the survey results reinforce the fact that there are a large number of people in need of help and advice.”

Meanwhile, the accountancy firm KPMG has forecast that more than 130,000 UK consumers will apply to enter an Individual Voluntary Arrangement over the course of this year.