Millions of Brits end up out of pocket because they are hazy on their rights as shoppers, new research reveals.

Three quarters of people surveyed thought that they were up to date on their consumer rights but the majority do not know what to do when they buy something they do not really want, especially when it comes to the sales, according to Consumer Direct.

It found that 70 per cent of people are unaware that they have no legal right to a refund if they later change their mind about something they have bought.

Shoppers also have no real grounds for complaint if they were told about a fault before buying an item, made a mistake when buying it or caused the damage themselves.

Many also wrongly believe that shoppers’ rights change during the sales. However, stores are legally able to alter or withdraw their returns policy for discounted items at their discretion.

Carol Brady from Consumer Direct, said: "It’s always worth double-checking a retailer’s refund policy before buying and this is particularly important when sales shopping.

"Although many shops allow you to exchange full price goods that you’ve had second thoughts about, they do this as a goodwill gesture. There’s no legal requirement for them to do it.

"These goodwill gestures may change or be withdrawn altogether during the sales.

"And remember, your consumer rights are exactly the same during the sales as at any other time. If you’ve bought goods that turn out to be damaged or faulty, you are entitled to a repair, replacement or refund."