The overwhelming majority of women homeowners have no intention on cutting their spending on home decoration, despite the cost of living crisis.
A survey of 1,009 female homeowners in the UK for Factory Flooring Direct found that just 12% said they would cut back on home redecoration – only beaten in the priority stakes by groceries, which just 6% said they would sacrifice.
Eating out is the most likely luxury to be sacrificed: (53%), followed by holidays (45%) and social activities (43%).
Some 94% stated they now expect to only buy items on sale or will look for sale items more.
The cost of living induced cut-backs are also impacting the shopping habits of those surveyed: 18% are now likely to only buy reduced items, 75% are comparing costs and looking for sale items more, and 65% are comparing prices from up to three retailers before buying higher value items such as home interiors and furniture, and technology. Some 72% of women claimed that they were much better than their partners at saving money for these kinds of high-ticket items.
‘The pandemic and multiple lockdowns were the catalyst for a renewed focus on the home, and many people looked to improve their home or re-purpose their living spaces to cater for new multi-functional requirements, such as working or exercising space,’ says Paul Hambidge, Factory Flooring Direct founder.
‘The survey results highlight that despite the cost of living putting a strain on many household budgets, homeowners are reluctant to sacrifice home decoration and improvement. People clearly plan to continue spending the most time in their homes, and during this squeeze on pockets, restaurants and leisure activity providers are going to really feel that knock-on pinch. Key ambitions for many homeowners – which have taken on a new meanings since the pandemic – are making the home comfortable, attractive and fit for their lifestyles. For many, their home is their retreat, and in uncertain or tough times, it really is a sanctuary – as these results illustrate.’
