• Almost a quarter of young Brits (aged 18-34) say TV shows such as TOWIE and Real Housewives focus on flaunting wealth, so they do too
• Rich Brits of Instagram - over a third (34 per cent) of young Brits brag on social media about their expensive branded goods
• One in five young Brits say there is no point in owning expensive things if other people don’t know about it
• 22 per cent of young Brits think their friends and family will respect them more if they have nice things
• 29 per cent of young Brits  believe that having obviously expensive things is a sign of success
   

New research1 from Direct Line’s SELECT Premier Insurance reveals millions of young Brits are living by the mantra “if you’ve got it, flaunt it,” bragging about the expensive brands they own. Almost a quarter (22 per cent) of young Brits aged 18-34 say TV shows such as TOWIE and Real Housewives focus on flaunting wealth, so they do too.  

A third (34 per cent) of those aged 18-34 enjoys flaunting their expensive possessions and bragging about them on social media.  One in five Brits aged 18-34 says there is no point owning expensive items if other people don’t know about it.  This is totally different to older generations, where just seven per cent of 35 – 54 year olds and six per cent of those aged 55 and over think it is necessary to shout about their wealth.   

Millions of young Brits measure their social status by their pricey possessions, with 29 per cent of this generation believing that owning obviously expensive things is a sign of success.  This attitude also translates into the opinion they think others will have of them, with 22 per cent thinking their friends and family will respect them more if they own nice things.  Older generations are far more circumspect when it comes to flashing their wealth.  Just 12 per cent of those aged 55 and over believe that having obviously expensive things is a sign of success. 

The majority (86 per cent) of 18 to 34 year olds feel it is appropriate to openly discuss the price of expensive possessions2. The analysis found that over 10 per cent (11 per cent) felt comfortable sharing information about how much they pay for items with their colleagues, and one in eight (13 per cent) would speak to their in-laws about the value of their pricey purchases.

 

When asked how they would respond if they owned a £6,500 Rolex watch and were asked how much it cost, young Brits say they would want to flaunt their wealth. Indeed, one in six (17 per cent) 18 to 34 year olds would reply that they had bought something very expensive compared to just three per cent of over 55s. Young people (18 to 34) were found to be more than twice as likely to tell people the watch cost £6,500 or even inflate its value, compared to the older generation (13 per cent versus five per cent).

Table one:  Attitudes towards displays of luxury

Source:  Direct Line’s SELECT Premier Insurance
 

Nick Brabham, head of SELECT Premier Insurance, says: “Inspired by flashy displays of wealth on reality TV and people parading expensive purchases on social media, young people increasingly see wealth as something to showcase.  With celebrities, such as the Kardashians and the cast of Made in Chelsea using social media to promote expensive brands to their legions of fans, it is no wonder people increasingly copy this trend. 

“Owners should keep any details on where their expensive items are kept private and anything very valuable should be stored in a safe. There is nothing wrong with rewarding success with pricey purchases, but it’s important that they are treated with care and protected. It’s important that expensive goods are covered under an appropriate home insurance policy, in case something happens to them.”

For more information on this please visit: https://www.directline.com/select-premier

ENDS
 

Notes to editor

1 Opinium Research interviewed a UK nationally representative sample of 2,005 people, between 2nd and 6th June 2017. Figures have been scaled up to a nationally representative sample and regional breakdowns should be seen as indicative only.

2 For the purpose of the research, Direct Line described an ‘expensive possession’ as an item that cost over £500.
 

For further information please contact:

Claire Foster

Direct Line

[email protected]

0165 183 1672

 

Antonia Green

Citigate Dewe Rogerson

[email protected]

020 7282 2967
 

About SELECT Premier Insurance
 

Direct Line offers SELECT Premier Insurance to cover homes, cars and valuables of high worth, as well as breakdown cover, pet and travel insurance, all covered under just one policy. When taking out SELECT Premier Insurance, Direct Line will even pay your cancellation charges from your previous policy, making it even easier and affordable to have all your policies under one roof, with one payment plan and one renewal date.

At SELECT Premier Insurance we help you stay in control by offering you a truly personal service. To begin with, one of our accredited insurance advisors will carry out a complimentary individual telephone review with you. Then they’ll give you tailored advice, based on your unique needs, for example, specialist cover for valuables such as fine art and jewellery (without needing to list individual items worth less than £10,000) or for your property portfolio, to ensure you get exactly the right level of cover.

To find out more about what Direct Line SELECT Premier can offer, go to www.directline.com/select or go straight through to an expert, not a machine, on 0800 206 2849

Direct Line

Started in 1985, Direct Line became the first UK insurance company to use the telephone as its main channel of communication. It provides motor, home, travel and pet insurance cover direct to customers by phone or on-line.

Direct Line general insurance policies are underwritten by U K Insurance Limited, Registered office: The Wharf, Neville Street, Leeds LS1 4AZ. Registered in England and Wales No 1179980. U K Insurance Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Direct Line and UK Insurance limited are both part of Direct Line Insurance Group plc.

Customers can find out more about Direct Line products or get a quote by calling 0345 300 7838 or visiting www.directline.com