UK consumers still looking to “treat themselves” according to LTK research

New research has revealed that UK consumers are continuing to treat themselves for the right items and price points despite the cost-of-living crisis.

The YouGov study commissioned by LTK, the creator-guided shopping platform, found that UK adults have been looking for small indulgences to help lift their mood. 59 percent of respondents stated that they have purchased an item that gives them a feeling of escapism in the last six months.

While 42 percent of UK shoppers said they would spend over 30 pounds on an item that makes them feel good, while one-fifth (20 percent) added that they now spend more on beauty items than they did in the last six months as “an instant and cost-effective way to brighten their mood”.

These findings are corroborated by discovery trends from the LTK shopping platform, which show a 93 percent increase in searches for skincare month-on-month, as well as a 1,500 percent increase in searches for foundation and a 900 percent increase in searches for nail polish.

LTK data also shows that the top ten purchased items this year so far have been heavily dominated by beauty products, including Nars Foundation and Look Fantastic x Sol Janeiro moisturiser. While in 2021, the top ten items bought were more fitness and wellness inspired with Nike trainers and leggings ranking as two of the top five purchased items because of the heightened focus on fitness during the pandemic.

LTK research finds consumers spending more on beauty to “brighten their mood”

The research also notes that shoppers who have been trying to spend less in the last 3 months, compared to this time last year, said that the two most important factors when purchasing items to treat themselves were to ensure that they had bought a quality item (51 percent) or know that they’ve got a bargain price, or they’ve saved money (62 percent). This LTK states that shoppers are more considered in their purchase behaviours, opting for items that are a true investment and financially beneficial.

For many, the “right price” is just as important as buying the things they love when it comes to shopping for non-essential items like clothing and homeware. Four in five UK adults (80 percent) said that they get as much joy from purchasing an item they love worth less than 15 pounds as they would buying a loved item worth up to 250 pounds.

The findings also reveal that while people are feeling the squeeze, many continue to be generous in spirit, with 36 percent saying that they had recently spent money on presents and gifts for others. Looking ahead to the festive season, 44 percent said that they will be “less focused on purchasing expensive Christmas presents and buying more meaningful non-essential items for their loved ones”.

Amber Venz Box, co-founder and president of LTK, said in a statement: “Shopping has changed considerably in the last year, and we’ve seen from LTK creators that consumers are finding a way to navigate the current economic climate whilst purchasing items that provide them with a sense of escapism.

“We’re seeing more and more consumers follow creators for their savvy sales shopping tips and look to them as guides for the best recommendations on how to shop smarter and more cost-effectively during this time.”

Image: LTK