Brits are spending their disposable income on self-care and wellbeing, with 35% choosing to spend it on beauty products, exercise, and other self-care activities, according to new stats.
The survey by loan company Moneyboat showed that 20% of Brits prioritise beauty products, while 15% invest in exercise.
It also revealed that millennials lead the way in self-care spending, with 50% prioritising self-care (more than any other generation) and 22% directing the majority of their disposable income toward exercise, demonstrating a strong commitment to physical fitness and wellbeing.
Additionally, 30% of this age group choose to spend most of their discretionary funds on beauty products.
In terms of the geographical demographics, Londoners are allocating the most significant portion of their disposable income to self-care.
Specifically, 19% of residents invest in exercise, while 26% spend the majority of their discretionary funds on beauty products.
This spending pattern could be influenced by the capital’s vibrant social scene and the importance of staying fit and polished in both professional and personal environments.
Based off the results of this survey, businesses in the beauty and wellness industries can expect to see sustained demand, making self-care a significant economic driver in the UK.