'Bargain bragging' Brits - research by Outlet Shopping at The O2

- The TikTok shopping trends that will help the average Brit get all their Christmas shopping done for £274.54 this year revealed -

 

• Report on spending habits shows 12.7m* Brits started their Christmas shopping by October, and Scots have the highest festive budget at £313.43 for all their Christmas gifts
• Gen Z have made being thrifty ‘cool’ with one in 10 Brits admitting TikTok trends like ‘Underconsumption Core’ and ‘Loud Budgeting’ are a way of life for them
• Nearly four fifths (78%) of us go out of our way to avoid paying full price for items
• It’s not only acceptable but a compliment to ask somebody how much they spent (or saved) on an outfit
• Mindful shopping remains on trend with one in 10 saying environmental and social impact, uniqueness and how items express their personality are key deal-clinchers

 

It’s the biggest time of year for shopping – but new research published today shows Brits are set to be thriftier than ever ahead of Christmas this year. Inspired by Gen Z shoppers’ obsession with TikTok trends such as ‘Loud Budgeting’ and ‘Bargain Bragging’**, it reveals that an enormous 78% of us will be finding workarounds to avoid paying full price for our shopping.

 

The research into shopper habits conducted by Outlet Shopping at The O2 found men are more than twice as likely to leave their Christmas shopping to the last minute versus women (9% vs 19%). When it comes to Gen Z and Millennials, nine in 10 (91% and 90% respectively) will be attempting to cram all their Christmas shopping into the four-day period during the Black Friday sales.

 

This festive period comes at the end of a year when pride in the amount of money you’ve saved is at an all-time high, led mostly by Gen Z’s attitudes to shopping. Among these younger consumers, it’s considered not just acceptable but polite to ask somebody how much they paid for an item of clothing; in fact, under 26s are 15 times more likely than Boomers to pose the question. In addition, nine out of 10 Gen Zs and Millennials will immediately respond to a compliment by telling somebody how much they paid for their item.

 

Indeed, you could say pride is in order - considering the efforts we make to save a few quid on a coveted item. Brits will do everything they can to avoid paying full-price on clothing with almost half of respondents (47%) noting they would shop around for a cheaper version, over a third (35%) noting they would wait for a sales period and over a quarter (26%) noting they would visit a discount or outlet shopping centre.

 

Researchers asked the panel of 2,000 UK consumers aged 16+ what they were spending most of their disposable income on (after essentials such as bills and groceries) – the most popular items by far were fashion (39%), home and garden wares (31%); and beauty and wellness (20%).

 

A generational split shows Millennials spent the most on clothing (54% said this is where their disposable income went); by contrast Boomers were most likely to put their extra cash towards books, pets and family. The findings concluded that men tend to value quality above price when it comes to non-essential purchases, with nearly a third (32%) reporting that quality matters above all else - compared with just over a fifth (21%) saying getting it less than full price is the main priority. For women the reverse is true, with a third (31%) saying that simply knowing they’ve snagged a bargain will be enough to seal the deal for them; over product quality (24%), or positive reviews (15%). 

 

The biggest beauty consumers were the youngest cohort; 16–24-year-olds are spending a third (33%) of their cash on beauty and wellness (which includes items such as stress relievers, sleep aids and detoxes.)

 

This is closely connected to a previously established move towards “Social Spending” identified by The O2 – where consumers who go out to shop will ‘make a day of it’ by tying a meal, drinks or other entertainment into their trip.

 

Janine Constantin-Russell, Managing Director of the Entertainment District and Outlet Shopping at The O2, comments on the report, “We’ve witnessed this increased shopper confidence when bagging a bargain for a while here at The O2; people are no longer shy to admit they didn’t pay full price for a big-ticket item and, as these results show, most are actively proud of their savings.

 

“But the key here is they aren’t just spending less – they’re getting more while doing it. That makes them happy to take the compliment, gives them a sense of achievement and encourages them to find enjoyment by doing more during their outings - a meal with friends or trip to the cinema perhaps. Say what you will about TikTok but it has also helped a lot of people to plan and maximise their budgets – and shout it from the rooftops in the process – and that can only be a good thing for British shoppers and businesses.”

 

The new Report, which has been published by Outlet Shopping at The O2, tracks consumers’ attitudes to shopping and saving, in relation to major social trends and seasonal events such as this lead-up to the festive period. It also tracked shoppers’ attitudes to outlet shopping, identifying the top reasons for visiting a retail outlet included savings and quality but also range, convenience and knowing they could find in-season and on-trend stock.

 

Visitors to Outlet Shopping at The O2 can expect to find up to 70% off over 60 designer brands year-round, seven days a week, just 15 minutes from Central London. Find out more about planning your visit to The O2 at www.theo2.co.uk

 

 

 

About the data:

Research was conducted by Censuswide with UK Nationally Representative General Consumers between 30.09.24 to 01.10.24. Censuswide abide by and employ members of the Market Research Society which is based on the ESOMAR principles and are members of The British Polling Council.

 

*Based on ONS figures showing there were 42.45m UK adults aged 16+ in July 2024

 

**Loud Budgeting is defined as being upfront and transparent about what you're willing and unwilling to spend your money on. Bargain Bragging is to vocally express pride in purchasing something which was on sale or deemed a bargain.