Published
October 29, 2024
It’s the time of year when discretionary spending is to the fore and while markdowns and sales events often grab a lot of the attention in this shopping season, a new report says that “practicality, self-care, and surprises” what count for UK consumers rather than deep discounts. And it’s younger groups who are leading this particular charge.
A Visualsoft survey of over 2,000 adults also cited 46% of consumers picking nostalgia as a key influence on their shopping choices, rising to 75% of shoppers under 35. Meanwhile 64% of 18-34 year olds seek personalisation.
And while discounts aren’t the primary focus, Black Friday and Cyber Monday are “still key shopping dates for many”.
The influence of nostalgia is particularly prevalent among younger generations. A significant 72% of 18-24 year-olds and 62% of 25-34 year-olds agree, “as they turn to the comfort of childhood memories in a time of ongoing social and political challenges”.
Self-care is another important factor for many with 56% of consumers using online discounts to treat themselves. Again, younger people are especially likely to indulge here, with 74% of 18-24 year-olds and 75% of 25-34 year-olds taking advantage of discounts for self-care.
There’s also a strongly practical strand running through gift wishlists this year with 63% of consumers leaning towards practical presents. However, there’s a noticeable North-South divide, with 70% of respondents in the North West agreeing they will buy practical gifts, compared to only 58% in the South West.
As for the personalisation, 44% of shoppers “enjoy finding or creating personalised gifts”. And once again, those younger shoppers are driving this trend. Some 64% of 18-34 year-olds say they enjoy creating personalised gifts, compared to just 32% of those aged 55 and over.
Surprise gifts remain a popular choice for all age groups, with 61% of people saying they enjoy finding imaginative and unexpected presents. Female shoppers are particularly keen, with 69% looking for surprise gifts, compared to just 52% of men.
Discounts still matter
As mentioned, markdowns aren’t the key driver this season, but they remain important for consumers who are still very price-conscious. As many as 46% of consumers agree that discounts allow them to buy more luxurious gifts.
And guess who this matters most for? Yes, it’s younger consumers again, which is perhaps no surprise given their lower income levels. Some 71% of 18-24 year-olds say Black Friday and Cyber Monday enable them to buy gifts they wouldn’t usually afford. Regionally, 61% of Londoners plan to use sales events to buy luxurious items, compared to just 35% in Yorkshire and the Humber.
And while only 37% of people save their cash for key sales days, young Londoners are the exception, with 58% planning to wait for Black Friday or Cyber Monday to make their Christmas purchases. To illustrate how different this is from the rest of the UK, in contrast to this, only a quarter (28%) of buyers in the East Midlands will do the same.
As for brand loyalty, consumers appear not to differentiate between small players and the big names. This is the case for 47% of consumers but among the young there’s a growing trend for supporting smaller independent businesses. Only 21% of shoppers prefer to buy from them overall, but the figure is 40% for those aged between 18 and 34.
And once again there are regional differences with 37% of Londoners more than twice as likely to support small online brands compared to shoppers in the North East and East of England (16%), and almost four times more likely than those in Wales (11%).
Copyright © 2024 FashionNetwork.com All rights reserved.