A substantial number of residents in the UK are planning to cut back on their spending for fashion items like clothing and footwear in 2025, as revealed by a cost-of-living survey conducted by the consumer research firm Maru.
The study, which has been running for three years and includes responses from over 40,000 adults in the UK, shows that 77% of respondents anticipate needing to reduce their fashion and footwear expenditures as a strategy to manage their budgets.
These findings reflect the prevailing economic conditions, characterized by consistently high consumer prices. Inflation remains above the Bank of England’s target of 2%, unexpectedly rising to 3% in January 2025.
Stephen Brockway, chief research officer at Maru, stated: “Our research into the cost of living indicates that UK citizens are increasingly seeking methods to reduce their expenditures as heightened costs put pressure on household budgets and diminish purchasing power. A notable trend is the intent to save on clothing costs.”
Brockway emphasized the importance for fashion retailers to recognize these consumer pressures during the product development process, marketing strategies, and enhancements to customer experience. “Brands that align with consumer needs by providing value, understanding, and relevance will likely succeed in fostering trust and securing long-term customer loyalty,” he added.
Additionally, Maru’s recent survey data indicates that many individuals in Britain foresee the necessity for further financial adjustments across various sectors.
