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Observations In Luxury

Entrepreneurial students still worry about the cost of living, but are determined to invest in fashion

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WRITTEN BY
SkYWIRE
Posted
February 12, 2025
Feb 5, 2025

The cost-of-living crisis turned out to be a defining theme of the early 2020s, and it remains a highly pertinent one for many fashion consumers in 2025. This much is evident from a recent poll of students in the UK, which nonetheless unearthed some trends that ought to encourage many a fashion, luxury, and lifestyle brand. 

UNiDAYS’ Student Insights Report revealed that the cost of living was a concern for 59% of students. This was down somewhat from the 68% of respondents who stated the same a year earlier, although the relatively high percentage still marks it out as a major issue. 

What else did the report disclose about students’ finances and shopping priorities? 

Also revealed by the research was that the average UK student had a monthly disposable income of £182. 

Hearteningly for any brand that is presently investing in its fashion website development, brand identity, or social media marketing, four in 10 (41%) respondents indicated they were spending much of their disposable income on fashion. This compared to the 38% of those questioned who said they were putting their money into travel. 

Given that older cohorts have recently signalled a willingness to lower their expenditure on fashion whenever their finances are tight, the evidence of Gen Zers’ sustained appetite for clothing purchases will be a welcome fillip for ambitious brands in the sector. 

Speaking of ambition, it seems from the poll results that the students themselves have plenty of it, too. UNiDAYS stated that a third of students had taken on a side hustle, while 59% of them had resold clothes to generate additional funds.  

Such findings perhaps shouldn’t be a great shock, on the backdrop of apps for the sale of second-hand goods, such as Vinted and Depop, having risen to popularity. This comes at a time when longer-established ecommerce titans like eBay have also reported a heightened interest in pre-owned apparel among customers. 

“Students today are not only resilient but ambitious too” 

Chief strategy officer at UNiDAYS, Alex Gallagher, said the survey findings confirmed that “students today are not only resilient but ambitious too.” 

He added: “Despite their concerns about the cost of living starting to subside, it remains a big concern for them. Students are increasingly juggling their education with a side hustle to top up their disposable income and are taking practical steps to achieve financial stability.” 

Current students’ tech savviness was also saluted by Mr Gallagher, who pointed out that many of them were investing in AI tools to assist with their studies. This could provide invaluable “food for thought” for fashion brands that may be considering technology investments of their own to aid their growth ambitions for the years ahead. 

Would you like to discuss your own business’s aspirations with a strategic digital agency that has far-reaching expertise and a proven track record of helping to drive the growth of brands in the fashion, luxury, and lifestyle sectors? If so, please don’t hesitate to contact Skywire London

Photo by Brooke Cagle on Unsplash

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