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One in three young Brits shun saving in favour of celeb-endorsed clothes

Almost a third of young Brits spend more on celebrity clothing collaborations in a year than they put into their savings. Photo: Getty

There’s no denying that celebrities and influencers can help sell, but have you ever wondered just how much of an impact they have on the spending habits of young Brits?

national survey by thinkmoney found almost a third (32%) of 18- to 24-year-olds spend more on celebrity clothing collaborations in a year than they put into their savings.

Half of these Brits are more influenced by the celebrity than the item itself, with 49% saying the star they love is the main reason for these purchases.

Source: thinkmoney

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And a quarter (24%) said they buy celebrity-endorsed clothing specifically because they want to emulate the celebrity.

In the past year, one in five (21%) 18- to 24-year-olds have spent so much money on celebrity-endorsed clothing that it makes up at least 50% of their wardrobe.

Malvika Sheth, 20, a fashion influencer, said: “When an influencer shares their experience with a product, it becomes easier for consumers to relate, allowing them to justify purchasing a product.

Source: thinkmoney

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“It’s a powerful feeling a viewer gets when they see how and why their favourite blogger, content creator or influencer uses or wears a product.”

Young Brits are even landing themselves in debt to buy celebrity-endorsed clothing. Each year, one in seven (18%) young adults spend at least £200 on celebrity clothing collaborations.

Of the young adults that spend £200 or more a year, 50% use a credit card and 30% use Buy Now, Pay Later (BNPL) schemes.

Source: thinkmoney

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Six in 10 (59%) people said they feel they are encouraged to spend more than they have with BNPL schemes — hindering saving for the future.

Belynder Walia, a psychotherapist and mindfulness coach, said: “It is easy to aspire to someone who is popular and, ultimately, we want a part of the life of the influencer.

Walia warned: “It’s important for consumers to be mindful and remember, first and foremost, they are an influencer.”