More than two thirds (69%) of the nation have admitted to changing their spending habits amid the cost-of-living crisis – but Brits are not prepared to fully give up their everyday treats just yet, new research reveals. The research, commissioned by Virgin Red, revealed that one in three (32%) Brits admit that everyday treats give them something to look forward to and was a reason they’d refuse to cut back on them, whilst almost a quarter (23%) said that treats make life feel ‘normal’.
59% will be cutting back on big expenditures due to financial woes but won’t be giving up little treats like haircuts (22%) or a bottle of wine (14%), with more than a third (35%) of Brits saying it’s more important than ever to treat themselves during the cost-of-living crisis.
With uncertainty over costs this winter, Brits are turning to other ways to reduce their expenditure - with more than a third (36%) of the nation saying they’ll use loyalty points and programmes to make their money go further.
Andrea Burchett, Managing Director Commercial, Loyalty at Virgin Red, said: “We’re living through concerning and troubling times at the moment, and many are feeling the pinch, especially as we look towards Christmas.
“Our research shows that we’re a nation of treat lovers, and whilst 59% of us will cut back on big expenditures, we’ll still prioritise the small, everyday treats to provide us with some comfort and normalcy amid the chaos. "
THE TOP TEN EXPENSES BRITS REFUSE TO GIVE UP AMID COST-OF-LIVING CRISIS
1. Getting your hair cut
2. Buying a bar of chocolate or snack you enjoy
3. Going out to a bar or restaurant
4. Ordering a takeaway
5. Watching films / TV through subscription services
6. Buying a nice bottle of wine or something to drink
7. Buying a gift for someone
8. Buying a takeaway coffee or hot drink
9. Buying something new to wear
10. Buying toiletries or cosmetics to pamper yourself
