Young people losing £500m by not exercising rightsParents stepping to help young consumers with their rights
15 March 2014
Young consumers have lost out to the tune of £500m by failing to return goods, a new Which? report has found.
The report reveals that one in ten 18-24 year olds said they’re not confident using their consumer rights when something goes wrong, particularly if they’re complaining in person in a high street store.
The survey of 2066 UK adults looks at the experiences of young consumers as they enter adult life and begin to engage with markets and services.
Regardless of age, the Which? consumer rights website can help with everyday consumer rights problems, including what to do about returning goods to shops.
Young people unsure of their rights
Just one in five young consumers know where to go for information if they have a problem with a purchase, compared to nearly half of the general population.
Under the Sale of Goods Act, there are strict rules that retailers and sellers must abide by. Goods must be as described, of satisfactory quality and fit for purpose.
If something you buy fails to meet any of the these criteria, then you could have a claim under the Sale of Goods Act.
Reliant on parents
Young consumers are also relying on their parents for finance and help in negotiating consumer markets.
The report found that four in ten parents said they were surprised by the extent to which their adult children still need their financial support and a third were worried their children make bad decisions about money.
The Which? Mortgage Advisers may also be able to help. This is an independent service that can help first time buyers by searching the market to find the best deal for their needs.