Amex research flags savvy spending, shopping small, experience seekers as 2025 spending priorities

New research from American Express reveals three key trends in how UK consumers plan to prioritise their spend in the year ahead.

Surveying 2,000 Brits, it found that a love of experiences big and small, such as dining, day trips, wellness activities and festivals is set to continue into 2025, with 59% planning to spend the same amount or more on experiences this year, compared to last. 39% say they like to try at least one new experience every year and a similar proportion said they prioritise spending on experiences over material items (38%).

Gen Z and Millennials were the largest cohort anticipating spending more on this category - 56% intend to fill their free time enjoying more experiences during 2025, according to the research.

Brits will be taking an increasingly savvy approach to their spending, the research found. Half of all respondents will buy from alternative retailers if they feel they can get a better deal elsewhere, with a third stating they would be encouraged to do so by specific offers.

Shoppers plan to lean into ways of achieving greater value for money this year, compared to last; buying pre-loved items, maximising seasonal sales, and using payment cards that offer rewards and points on their purchases were among the top ranked tactics.

Furthermore, Gen Z and Millennial shoppers ranked as the most thorough when it comes to their research before spending, particularly if planning to purchase big ticket items like furniture. 73% of this age group either always or sometimes seek recommendations in advance.

The research showed that affection for the UK’s small businesses remains strong, with 63% of consumers believing it is important to support these businesses all year round, and not just during seasonal peaks like Small Business Saturday, which in 2024 saw a collective £634 million spent in-store and online. 

People highlighted various reasons why they would continue shopping small, including how these businesses boost the appeal of their local high street (53%); the personalised experience they enjoy when shopping (50%); and a desire to support their local community (43%).

Dan Edelman, UK General Manager, Merchant Services at American Express, says: “The one guarantee with retail is that it never stands still, and it’s the retailers who best meet ever evolving customer expectations that will succeed. Our research identifies some distinct priorities that are likely to influence consumer spending behaviour in the months ahead."

“For small businesses, it’s hugely positive to see continued recognition of, and affinity for, shopping small highlighted by the research. Small businesses pride themselves on the unique experiences and service they offer, something that clearly appeals to consumers.”

2025 RTIH INNOVATION AWARDS

Payments will be a key focus area at the 2025 RTIH Innovation Awards.

The awards. which will open for entries in March, celebrate global tech innovation in a fast moving omnichannel world.

Our 2024 hall of fame entrants were revealed during an event which took place at RIBA’s 66 Portland Place HQ in Central London on 21st November, and consisted of a drinks reception, three course meal, and awards ceremony presided over by comedian Lucy Porter.

In his welcome speech, Scott Thompson, Founder and Editor, RTIH, said: “The event is now into its sixth year and what a journey it has been. The awards started life as an online only affair during the Covid outbreak, before launching as a small scale in real life event and growing year on year to the point where we’re now selling out this fine, historic venue.”

He added: “Congratulations to all of our finalists. Many submissions did not make it through to the final stage, and getting to this point is no mean feat. Checkout-free stores, automated supply chains, immersive experiences, on-demand delivery, next generation loyalty offerings, inclusive retail, green technology. We’ve got all the cool stuff covered this evening.”

“But just importantly we’ve got lots of great examples of companies taking innovative tech and making it usable in everyday operations - resulting in more efficiency and profitability in all areas.”

Congratulations to our 2024 winners, and a big thank you to our sponsors, judging panel, the legend that is Lucy Porter, and all those who attended November's gathering. 

For further information on the 2025 RTIH Innovation Awards, please fill in the below form and we will get back to you asap.