During this festive period, 60% of UK consumers prefer investing in quality over quantity, with many opting for fewer, higher-quality gifts rather than several low-quality ones.
The research shows that 70% of consumers are very selective when buying high-end items due to cost of living concerns, emphasizing the need for merchants to adapt their offerings.
A shift towards 'conscious consumerism' is evident, as 36% of consumers feel that the holiday season promotes redundant, low-quality gifts leading to waste, highlighting a desire for sustainable purchasing.
Three quarters of high-end merchants are optimistic about maintaining or improving profit margins during the festive season, as consumers increasingly favor quality in their holiday spending.
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