Four in five Brits to cut fashion spend in 2025
With the cost-of-living crisis still impacting so many people across the UK, nearly four in five (77%) of Brits say they are likely to spend less on fashion items in 2025 in order to reduce costs.
That’s according to a new survey of 40,000 participants by consumer research specialists Maru, which also reveals 76% are holding off on big purchases such holidays and a new car. Meanwhile, 66% plan to cancel gym memberships and 52% are looking to change their mobile phone plans to lower cost alternatives.
Stephen Brockway, Chief Research Officer at Maru, said: "Our cost-of-living research shows that Brits are increasingly looking for new ways to cut their spending as rising costs continue to squeeze household finances and reduce spending power. One of the most common ways in which they are looking to doing this is by saving on their clothing expenses.
"For fashion retailers, this shift in consumer behaviour underscores the need to actively consider these pressures on their customers when designing products, shaping marketing strategies, and creating customer experiences.
"Brands that meet consumers where they are — offering value, empathy, and relevance — will be best placed to build trust and long-term loyalty."
Other ways that Brits are planning to save money include eating in rather than eating out (84%), shopping around for lower insurance costs (81%), buying more budget or own-brand groceries (78%), spending less on home appliances (73%), spending less on home improvements (71%), cancelling entertainment subscriptions (54%), and getting a cheaper deal on home broadband (53%).
