23 March 2007
People in the UK are indulging in time-saving household appliances and are buying more than ever with 2% of household disposable income going on these luxury goods, new research suggests.
And the use of credit cards is more effective than using store cards as faulty goods are often covered, according to one provider.
Ken Stannard, head of Halifax Credit Cards, commented: "When purchasing household items there is nothing more disappointing than the item not being delivered or finding it to be faulty.
"When purchasing with a credit card, all appliances over £100 are covered by Section 75 which means we will give you a full refund if the goods do not arrive or are found faulty."
Consumer spending on these items hit £5.7 billion in 2005, according to a study from Halifax Credit Cards, up from £4.4 billion a decade earlier and equivalent to a 29% rise.
But while we are spending more, we are getting more as prices have dropped by 15% over the same period.
This means that the current average spend of just over £4 per household each week is purchasing a great deal more consumer luxuries than 1995's £3.62.
However, despite the low price of household opulence, most people are looking to save their cash, according to Legal & General's MoneyMood survey, which found that 64% of UK consumers were in the mood to save, up 10% from last year.
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