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Brits spend more on luxury items |
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Friday, 01 December 2006 |
Two new surveys have shed some light on the spending habits of UK consumers, with increased expenditure on shoes and plastic surgery figuring particularly prominently.
Market analyst Mintel has revealed that the past five years have seen the amount of money spent on shoes rise by 38 per cent. The company predicts that there will be a further 17 per cent rise by 2010, meaning that the total amount spent on footwear each year will have then risen to £7.6 billion.
"Shoes are no longer seen as a clothing essential to be bought on a replacement basis only, they are now an integral part of the fashion of the day," said Mintel retail research director Richard Perks.
"What is more, people are now far more willing to buy a pair of shoes for a specific occasion or to go with one particular outfit," Mr Perks added.
Meanwhile, research by Sainsbury's Bank revealed that £1.8 is million now spent on plastic surgery every day in the UK, with men accounting for one in five of the loans taken out to fund such cosmetic improvements.
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Last Updated ( Friday, 01 December 2006 )
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