Did you know that in 2023, unexpected consumer spending helped prevent a recession, but economists predict a shift in 2024 towards more conservative spending due to factors like inflation and a slowing job market? Consumers are expected to focus on smaller, more affordable indulgences, driven by economic uncertainty, leading to a trend known as “affordable luxuries.” 

Deloitte analysts anticipate increased spending on items like specialty coffees, snacks, premium spirits, and wellness and personal-care products. This shift includes small indulgences and self-care products. Lower-income consumers still desire treats within reason, and practical luxury items may cater to their needs. In January and February, self-indulgent shopping after the holidays is expected, with consumers turning to discount stores in the UK. Retailers are responding by diversifying their offerings, emphasizing affordable joy, and mixing high-end and low-end luxury items. Overall, consumers seek small splurges to feel good without overspending, and luckily some retailers are eager to cater to this trend.

As an Angel Customer to several products, I hope my most beloved products will be included in the promotions!

What about you? What are your affordable luxuries? Are they already included in some offers? Share your experience with us, we’d love to hear from you.
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