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Are We Now a Nation of Shoppers Rather Than Shopkeepers?

ended 07. August 2025

With the rise of online retail, buy-now-pay-later schemes, and social media-driven consumerism, Britain looks less like a nation of shopkeepers and more like a nation of shoppers.

From Amazon splurges to TikTok-fuelled hauls, overspending has become normalised—even as household debt rises and saving rates fall.

We’re asking:

Why are so many people stuck in a cycle of buying things they don’t need?

What practical tips or mindset shifts actually help people stop overspending?

How do advisers and experts help clients regain control of their finances?

We want views from financial planners, coaches, psychologists, and money experts.

Is it time we relearned how to live within our means?

Drop your comments below to be featured.

7 responses from the Newspage community

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Editor
Scott Gallacher
Director at Rowley Turton
Living within your means is the real secret to financial success, so overspending—or buying things you don’t need—is a serious issue.

My three tips:
First, audit what you already have. I’ve got over a dozen polo and golf shirts—do I really need another, no matter how nice it is?
Second, only buy something on the third look. That pause gives you time to reflect and often prevents impulse purchases.
Third, if you must buy it, make sure you’re getting the best option and the best price.
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Riz Malik
Independent Financial Adviser at R3 Wealth
Social media has made spending effortless, turning impulse buys into a dopamine fix. Brands and influencers know exactly how to trigger that response. If you find yourself stuck in the cycle, go back to basics. For bigger buys, wait a week before deciding. Chances are you will realise you do not need it.
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Philly Ponniah
Chartered Wealth Manager and Financial Coach at Philly Financial
We’ve normalised spending as a form of self-soothing, but that dopamine hit from ‘add to cart’ doesn’t last. Many high earners I work with look successful but feel out of control with money because spending is their emotional outlet. To break the cycle, you have to pause the autopilot. Ask: What am I really craving here? Often it’s rest, recognition, or escape, not the £200 Zara haul. As a coach, I help clients reconnect with values, not just budgets. When spending has a purpose—freedom, security, joy—it becomes easier to say no to the noise.
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Pete Mugleston
Mortgage Advisor & Managing Director at onlinemortgageadvisor.co.uk
It’s never been easier to overspend. We’re on our phones for hours every day, being hit with ads, influencer posts, and marketing emails all fine-tuned to encourage impulse buys. Add one-click checkout and buy-now-pay-later, and there’s zero friction. The best fix is to add some back by unsubscribing from marketing emails, limiting time on social media, deleting saved payment details, and making buying something a conscious choice again.
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Kundan Bhaduri
Entrepreneur, Investor and Landlord at The Kushman Group
The average British household now services £2,688 in credit card debt while maintaining a savings of under 4% of annual expenses, the lowest since records began.

Amazon has reframed excessive consumption as a subscription service, while TikTok serves an endless deluge of must have products to increasingly younger audiences.

This country's buy now pay later industry, now worth £54 billion annually, has dressed up old fashioned hire purchase as financial empowerment, creating a generation for whom sadly debt is not a burden but a lifestyle choice.

The modern British consumer resembles nothing so much as a laboratory rat, pressing the lever for another hit of next day delivery dopamine, while the tech giants perfect their experiments in behavioral economics.

Controversial as it might seem, this is a shameful reflection on perhaps our collective parenting skills as well, and I take full responsibility for raising my children to be more financially self aware young adults.
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Daniel Wiltshire
Actuary & IFA at Wiltshire Wealth
In our late capitalist world, people aren’t just buying things - they’re buying identity, status, and belonging. Social media and online shopping have turned consumption into a form of self-expression, normalizing overspending and trapping us in a cycle of consumerism. Breaking free requires a shift in perspective and values.

It can be a little uncomfortable, but a good adviser should challenge unwise spending and hold clients to account.
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Patricia McGirr
Founder at Repossession Rescue Network
We’ve gone from shopkeepers to shoppers to performers fuelled by fast fashion, TikTok hauls, and buy-now-pay-later culture. Spending has become a form of self-expression, even self-soothing, while debt quietly climbs and wardrobes overflow. We’ve normalised treating feelings with purchases, and built a throwaway society in the process. The fix isn’t just financial, it’s emotional. It’s better to ask, “Why do I want this?” than “Can I afford this? Real control comes when spending aligns with values, not moods. Relearning to live within our means isn’t just wise, it’s regaining sovereignty over our future.