Consumers want engagement even with brands they can't afford

More than half of consumers say they still want to engage with fashion brands they love, even when they can't currently afford to make a purchase.

According to research carried to by specialist e-commerce platform Centra, 53% of consumers still want to engage with brands they love even if they can’t or aren’t buying from them currently, with a view to purchasing when their current situation improves.

Coats and jackets (40%), jeans (37%) and formal footwear (25%) are the top three fashion items consumers say they will prioritise for purchase when their financial position improves.

The original research of more than 1,000 UK consumers reveals, after more than two years of the cost-of-living crisis negatively impacting disposable income, 64% of consumers are buying fewer fashion, apparel and lifestyle products.

Rather than investing in new fashion items, a quarter (25%) are buying more pre-loved or second-hand items, while another quarter (25%) are reducing fashion spend by choosing lower cost items or accessories to update their wardrobe.

But those not currently buying should not be labelled as "lapsed" by retailers as they still want to engage. Some 23% of consumers overall (and 29% of Millennials) say they remain loyal to their favourite brands, despite not spending with them, underlining the importance of maintaining relationships with them.

Martin Jensen, CEO at Centra, commented: “The data clearly shows the power of brand equity as a sustainer of customer loyalty and UK brands need to remain focused on nurturing existing customers to make sure they return to spend when the economic recovery comes – and that means investing in customer engagement."

Further insights can be gained from Centra's latest, free-to-download report: What UK Shoppers Want from Fashion Brands in 2024.