Retail staff top league table for personal debt
Retail Trust, the national charity for the retail industry and which offers advice from counselling to financial and legal assistance, commissioned a survey during Retail Trust Week to identify the nations shopping habits and key motivating factors behind the UKs favourite past time. Findings revealed that nearly a quarter of the country seek stress relief from a trip to the high street, and 40% of 18-24 year olds are the most likely to shop in order to reduce their stress levels than any other age group.
People working in service industries, such as hotels and restaurants are almost twice as likely to buy to alleviate stress than any other profession. And individuals living in Wales ranked the highest in terms of stress related shopping, beating London and the West Midlands. The remainder of respondents shopped for pure enjoyment and retailers came out top of this category despite the fact they are working in the environment nine to five.
As our days lengthen due to increasing work loads and demands at home it appears there is a strong move towards shopping becoming an early morning activity across the country. Apart from the obvious shopping sprees at the weekend, 14% of men and 22% of women are taking advantage of earlier opening times to get to the shops. Once again retailers alongside individuals in agriculture seem to be the early birds.
Results also identified that men are more likely to be in debt than women, with 32% of them owing up to 20% of their income. People living in the West Midlands and the North East appeared to have the highest levels of personal debt, compared to Yorkshire and the North West, which registered at the lower end of the scale.
Retail and service industries head the league table for debt, with 8% admitting to owing 71% or more of their annual income in debt. Although amongst supermarket workers it is even higher with 10% of people working in that sector owing more than 100% of their income in personal debt.
Retail Trusts chief executive, Nigel Rothband, commented: 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. We have been operating as a charity for 175 years and have helped thousands of people either during their careers or in retirement to ensure the pressures of every day life are made easier.
We have recently celebrated our first Retail Trust Week where thousands of shop floor staff across the country have joined forces to raise funds for the charity. This has enabled us to raise the profile of the charity and let people know we are there to help however big or small the problem.
If you would like advice and information on virtually any issue or problem work related or personal and access to free counselling, free legal helpline, and financial assistance when unforeseen circumstances make life difficult, call the Retail Trust confidential on 0845 766 0113 or visit www.retailtrust.org.uk
Tagged in Star Wars