British Lifestyles Consumer Report 2024

Topics Analysed in this Report

• Trends in the British economy, demographic makeup and household finances, including the continuing impact of the cost-of-living crisis.
• Consumer spending trends over the last five years and forecasts for spending over the next five years, in total and segmented by consumer sectors.
• Expected changes in consumer spending in 2024 compared to 2023.
• Consumers’ expectations for society and the world in 2024.
• Consumer behaviour in uncertain times.
• The qualities British consumers most look for in brands.
• What British consumers are looking forward to in 2024.

British Lifestyles: An Overview

Significant damage has been done to consumer finances over the past few years, most significantly from very high levels of inflation. As a result, the value of total consumer spending is estimated to have fallen in real terms in 2023. 2024 is forecast to be another year of cautious spending as Brits stay loyal to savvy shopping behaviours and are yet to feel the relief of improving economic conditions.

British Lifestyle Trends and Opportunities for Consumer Spending

Younger consumers are more optimistic

Younger consumers are more likely to have been sheltered from some of the harshest impacts of the cost-of-living crisis and many prioritised saving. In 2024, they are hoping to spend more freely compared to 2023 across a number of categories.

• British lifestyle trends: 44% of under-35s expect their standard of living to improve in 2024

Positives in the everyday

While the majority of Brits feel pretty downbeat about the state of the UK and the world in 2024, they are much more positive about their own lives. This ignited feeling of gratitude has created interest in spending time with loved ones, be in nature and go on holiday, whether that be an intergenerational holiday, a once-in-a-lifetime trip or to a more affordable domestic destination.

• British lifestyles statistics: 76% of adults agree the events of recent years have made them appreciate their lives more.

Purchase our British Lifestyles Market Report to receive a five-year forecast, consumer behaviour analysis, and recommendations for market opportunities. Readers of this report may also be interested in our UK Lifestyles of Generation Z Market Report 2024, or our range of Consumer Lifestyle Market Research.

Additional Features Included with Your Purchase

• Interactive Databook: Each Databook is provided as an interactive website where you can deep dive into our consumer research data on your chosen topic so you can draw your own conclusions.
• Consumer Confidence Tracker: Our Trackers paint the picture of the economic confidence and major concerns of up to 40 different demographics, tracking changes in attitudes over time.
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Expert Insights from a Consumer Lifestyles Analyst

This report, written by Francesca Smith, a leading research analyst, delivers in-depth commentary and analysis to highlight British lifestyle trends and add expert context to the numbers.