In fact, according to a survey of 1,000 British women, the total spent on ill-advised but of the moment clothes is £2.4 billion.
Topping the list of 'fashion crimes' is the shell suit, an awful 1980s trend that comes back to haunt many a fashionista through old photographs, with 45 per cent voting it their biggest style regret of the last 20 years.
The velour tracksuit favoured by WAGs and glamour girls landed the number two spot with 33 per cent of the vote, just pipping neon club wear, a fashion fad regretted by 28 per cent of the female voters.
One in five girls were ashamed of the double denim look, while accessories such as the scrunchies and shoulder pads of the '80s also made it onto the list.
Anita Naik, consumer editor at VoucherCodes.co.uk, told the Daily Mail: "We all like to experiment a little when it comes to trying new fashion trends, but what can sometimes be in fashion one day is often out the next.
"With shops stocking new season clothes and London Fashion Week tempting people who want to be on trend many Brits are sucked into buying the latest fashions regardless of whether they fit or suit them."
Ms Naik advised: "If you really must have that latest fashion fix, make the most of discount vouchers and in-store offers, so if you end up buying something you only wear once or twice, at least it won't cost you an arm and a leg."
What's your biggest fashion regret of the past 20 years? Leave your comments below...