According to a report by Kantar for The Guardian, UK shoppers are splurging on clothing, footwear, and beauty products as they make up for missed experiences during the pandemic. This phenomenon, known as ‘revenge spending,’ has been fueled by the return of weddings, holidays, and socializing.
The report reveals that shoppers are currently spending almost 20% more on clothing compared to last year, surpassing the 2019 figure by 1%. However, the impact of inflation partially offsets this increase in spending. Kantar found that the volume of clothing items sold has decreased by around 8%, while the average price paid for items has risen by 9%.
Despite these inflationary pressures, Andy Saxton, fashion insight director at Kantar, suggests that higher spending is not solely due to inflation but also reflects a shift in consumer behavior. Shoppers are now opting for better-quality brands and making more considered purchases. They are seeking fashion items that will last longer and do not need to be replaced in the near future.
Interestingly, the demand for fashion and beauty products is defying expectations of a slowdown in non-essential spending, despite rising costs and rampant inflation. Footwear emerged as the fastest-growing non-food category last month, closely followed by health and beauty spending. Saxton attributes this trend to people valuing escapism and the shift towards more flexible clothing options that can be worn for various social occasions and as relaxed office attire.
Kantar’s research also highlights the resilience of the overall market, with strong sales of essentials such as intimates, nightwear, and socks, which are up 10% compared to pre-pandemic levels. However, this increase in spending is partly driven by higher prices, as retailers pass on cost increases to consumers.
The report further reveals that demand for sportswear remains strong, with spending 3% ahead of 2019. Sales of trainers have increased by 20%, reflecting the growing preference for casual footwear. However, smart footwear sales are experiencing a decline.
Weddings and parties are also driving the surge in clothing purchases, with spending now 1% higher than pre-pandemic levels and a staggering 165% increase compared to last year. Many people are refreshing their wardrobes, realizing that they haven’t worn certain outfits for more than two years.
Spending on holiday attire has more than tripled compared to last year but remains around 20% below pre-pandemic levels. Kantar suggests that the state of clothing sales in the retail market is expected to become more challenging in the coming months. Saxton warns that the autumn/winter fashion season may face difficulties as inflation continues to squeeze spending power in the UK. Additionally, supply chain disruptions caused by factory closures and delays at ports, particularly in China and other countries affected by Covid lockdowns, may further impact the availability of clothing.
In conclusion, UK shoppers are significantly increasing their spending on clothing, footwear, and beauty products as they make up for missed experiences during the pandemic. While inflation and supply chain disruptions pose challenges, consumers are making more mindful purchases and seeking longer-lasting fashion items. The resilience of the fashion and beauty market defies expectations of a slowdown in non-essential spending and reflects the value people place on escapism and adaptable clothing options.
Useful Links:
1. The Guardian – Fashion Section
2. Kantar Official Website
