Uh oh, something strange is happening on a high street near you. Shoppers are...disappearing. Sort of.
It seems rising costs of living and a strong distate for Pot Noodles have caused the twenty- and thirty-somethings of the U.K. to cut back on spending. According to a new report, consumers age 25-34 aren't shopping nearly as much this year as they did last year.
Consumer analyst Kantar Worldpanel reports that there are almost 400,000 fewer shoppers in the age range compared to May of 2012. Until now, the trend really only showcased consumers aged 25 and under as prime offenders (Mum and Dad's allowance doesn't exactly support for a consistent Zara habit).
The statistics from the report reveal shopping expenses in the 25-34 bracket have decreased by 2.4%, which Verdict Retail analyst Honor Westnedge says is due to a generational preference: This particular set of consumers searches for quality products rather than what's most affordable. Alas, the Champagne taste/beer wallet problem prevails. But you tell us: Do you want more of what's temporary or less of what's long-lasting? (Drapers)