Brits prioritise pre-loved, becoming more strategic with spending

New research conducted by American Express has revealed key retail trends among UK consumers on how they plan to prioritise their spend for the year ahead.

Of the 2,000 adults surveyed, Amex discovered that shoppers are seeking experiences, savvy spends and are supporting small business.

The research revealed that Brits are becoming more strategic with their spending. Half (50%) of respondents say they would switch to alternative retailers if they find a better deal, while a third (33%) would be motivated by specific offers.

This year, shoppers are increasingly focused on maximising value for money. Top strategies include buying pre-loved items, making the most of seasonal sales, and using payment cards that offer rewards and points on purchases.

The research highlights continued strong support for the UK’s small businesses, with nearly two-thirds (63%) of consumers believing it’s important to shop small year-round, rather than just during seasonal peaks like Small Business Saturday—which saw a collective £634m spent in-store and online in 2024.

Shoppers cited several reasons for their commitment to small businesses, including their contribution to the vibrancy of the local high street (53%), the personalised shopping experience they offer (50%), and a desire to support the local community (43%).

Dan Edelman, UK General Manager, Merchant Services at Amex, said: “The one guarantee with retail is that it never stands still, and it’s the retailers who best meet ever-evolving customer expectations that will succeed. Our research identifies some distinct priorities that are likely to influence consumer spending behaviour in the months ahead.

“For small businesses, it’s hugely positive to see continued recognition of, and affinity for, shopping small highlighted by the research. Small businesses pride themselves on the unique experiences and service they offer, something that clearly appeals to consumers.”

All figures are based on fieldwork conducted by strategic insight agency Opinium between 19-22 November 2024 on behalf of American Express.