UK students focus on quality items and discounts this festive shopping season
Reports about UK consumer shopping intentions for the festive season are coming thick and fast at the moment, but one is particularly interesting because it focuses on a key group relevant for the fashion and beauty sectors – students.
The report from student affinity network UNiDays says that “money-savvy UK students [are] banking on high-end shopping discounts this Christmas”.
Students may be cash-strapped but they clearly still want to buy higher-end products. Yet they’re not prepared to buy them at any price.
The research has shown that 84% of UK students plan on purchasing discounted items this season, with 69% saying they can’t complete a purchase without first searching for a deal or offer. And 65% are seeking previously expensive items on exclusive Christmas sale.
Meanwhile, 51% say they’re spending less on gifts this year because “their utility bills are rising” and 88% claim they're open to finding an offer from a brand or retailer new to them that would encourage a first-time purchase.
As many as 54% claim they’ll only purchase gifts with discount codes.
This means that Black Friday is likely to be a key focus for this age group with other pre-Christmas markdowns likely to be pounced on.
The sectors they’re most interested in are fashion, beauty, and tech with 56% of UK students open to working part-time to fund gift buying.
UNiDays said that with “value” being the keyword for this demographic, “retailers who adjust their messaging and sales strategy to reflect consumer needs have a golden chance to get onto Gen Z’s good list”.
This message has clearly got through to massive numbers of retailers already with the overriding theme of Christmas campaigns and strategies being about value.
It's particularly interesting that a large number of students who are open to buying from brands that are new to them this year, and this is a huge opportunity for retailers and labels to grow their consumer base during a tough period.
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