Younger shoppers `spending less on cut-price clothing`

Younger shoppers spent less on cut-price clothing last year than they did in 2007, despite a surge in the amount of stock being offered at a reduced price, new research has suggested.

The study by TNS Worldpanel looked into how consumers respond to discounts in clothing. It found that despite a big increase in the amount of clothing products being offered at reduced prices, the 16-35 age group spent just a quarter of their `fashion budgets` on cut-price products last year, compared with 27% in 2007.

A spokesperson for debt management company Gregory Pennington said that while this is only a 2% difference, the increase in cut-price stock being offered means that the change may be more significant than it seems.

The spokesperson added: "In an uncertain economic climate such as this, it makes good financial sense to search for bargains. Particularly for people who make purchases on credit, buying cut-price items can reduce the chance of running into problems with repaying the debt."

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