Halifax reveals extent of spending on fashion accessories

People in the UK spent a total of £43.7 billion on clothing and footwear in 2005, accounting for five per cent of the total household disposable income spending last year, according to Halifax Credit Cards.

This equates to an average of £1789.93 per household across the year, or £34.42 per week.

The amount revealed by the research represents a 56 per cent increase on ten years ago, when £28 billion, or £21.98 each week for a typical household, was spent on fashion accessories.

Peter Jackson, head of products at Halifax, said: "We can spend ages choosing the right outfit and we should take the same care and consideration when deciding how to pay for it.

"That garment may appear to be a bargain but this can be far from the truth if you are still paying interest on it months later."

The lender claims that its One card can save customers money as it offers zero per cent interest on purchases for nine months with a typical APR of 9.9 per cent.