The recession has put paid to pub crawls as well as exotic holidays .
However, Mintel’s in depth study of UK spending habits highlights that we are still spending on clothes, beauty treatments, makeup, underwear and pets.
Even though Brits have reigned in the purse strings, a considerable amount of disposable income is still allocated to alcohol, clothes, beauty treatments and makeup after paying out for essential bills and transport.
Mintel confirmed that the recession has not impacted consumers as hard as expected due to the cushioning of low interest rates.
Following the credit-inspired spending spree which set the seeds of the recession, consumer spending dropped by 6% to £974bn in 2009 and this is the anticipated figure for 2010.
In the last ten years we spent 50% more on trips to the hairdresser’s and beauty salons, with makeup sales doubling to £1.3bn.
It is not just women who wish to look nice. In 2009, the men’s grooming market was worth £850m, having expanded by almost 50% in the same period.
UK adults spent more than £13bn on trips to the hairdresser, makeup and other cosmetics in 2009, spending on average £216 each.