CONSUMER SPENDING HABITS IN THE UK: 67% ‘SOMETIMES TREAT THEMSELVES TO SOMETHING THEY DON’T NEED’

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People in the UK are treating themselves more often – but also increasingly hunting out bargains. 67% ‘sometimes treat themselves to something they don’t need’, but 57% look for the lowest possible prices when they go shopping, says Kantar Media.

According to data from Kantar Media’s TGI study of consumer behaviour, we are a nation of contradictions when it comes to spending habits – increasingly treating ourselves and spending money without thinking (23% of us claim that today, versus 18% back in 2006) but also becoming increasingly aware of budgeting and looking for bargains.

Looking at trends from the past 12 years, it’s clear that while percentages of both treaters and of bargain hunters are going up, the more popular option is to look after the pennies. 73% of those asked in 2018 said they always look out for special offers (up from 57% in 2011) and, consistent with older data, just 25% of respondents would consider that they have ‘expensive tastes’.

Over a third (36%) of UK adults agree with the statement ‘When doing the household shopping I budget for every penny’, which is up from just 20% in 2006.

Quality of products is less important: 71% of people asked in 2006 would pay extra for quality goods; that figure is down to 59% today. 41% of people are prepared to pay more for products that make life easier (down from 45% in 2006), but a (slightly) increasing number of UK adults are treating themselves to non-essential items – 67% vs 64%.

 

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