Increased consumption due to low self-esteemcan help you understand the value of
£1313.5 per person per year
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This valuation relates to the average increase in consumption associated with low self-esteem. This is based on the assumption that those with low self-esteem spend 60% more in debt-led consumption and are willing to pay up to 30% more for status consumption in retail.
"Academic evidence suggests that people with low self-esteem are more prone to indebted-led consumption (by 60%) as well as consumption for social status purposes, and willing to pay up to 30% more for status consumption in retail. The average spend on consumables in the UK is 94.6% of mean disposable income, i.e. £13,800 per capita per annum. Of this figure, around 31.7% is destined to retail spending, i.e. £4,378.20 per person per annum. As people with low self-esteem are likely to spend 30% more of their income, the avoided cost of ‘changes in self-esteem’ can be valued at 30% of £4,378.20= £1,313.50 per annum."
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