A survey by Marks & Spencer has found that financial worries are top of consumers’ concerns this summer.

The cost-of-living crisis is the top issue for 82% of UK families, up 10% since the end of last year, according to the latest M&S Family Matters Index.

Families expressed concerns about both their short- and long-term finances – both rising 19% since March 2021.

 

Those surveyed said they were worried about the cost of clothing and not being able to afford what their children need. These concerns have risen 10% and 6% respectively since November last year.

Worries about climate change and divisions within the country, while still high on the list, stayed broadly the same.

Younger people have been particularly affected by the cost-of-living crisis, impacting their spending habits.

After paying their household bills, 40% of 18- to 24-year-olds said they were prioritising savings – above the average of 31% – ahead of spending on food and drink (19%), leisure activities (11%) and holidays (8%).

Value was a top-three priority for consumers across all age groups when deciding where to shop – 78% of those surveyed flagged value as a deciding factor, above convenience (55%) and customer service (47%).

Despite the financial woes, families said they were keen to make the most of a restriction-free summer.

 

Sixty-one per cent of those surveyed said they were planning to go on a holiday, with just over half of those (34%) set to staycation in the UK.

Fifty per cent of those said they were planning a holiday to the beach, while 25% were looking for a country retreat, 23% a city break, and 11% a walking or hiking holiday.

Getting outdoors and staying active were high on families’ priorities for the summer.

Forty-seven per cent said they were looking to exercise more regularly and 40% said they would be going outdoors more.

A desire for a health kick this summer also featured in families’ eating habits – 53% said they were planning to eat more healthily with 33% expressing concerns over getting enough nutritious food.

 

M&S head of clothing and home customer insight Tamsin Robertson said: “It’s encouraging to see people more motivated than ever to exercise. When we first launched our Family Matters Index back in 2021 during lockdown, mental health consistently came up as a priority.

“Maintaining your physical health can deliver so many mental health benefits also and it would be great to see this enthusiasm for exercise sustain all year round. It’s a trend we’ve seen already at M&S – in the past year our great value activewear range Goodmove has grown by 26% as people get moving.”

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