Liverpool is the luxury goods capital of the UK: new research reveals luxury brand map of the UK

• Perfume is the number one luxury purchase in the UK, with handbags coming in top as the most popular accessory
• Men are the highest spenders on luxury goods owning an average of £923 worth of products, including accessories and cologne
• Women favour Chanel as their brand of choice, while men prefer Hugo Boss
   

A new study by Privilege Home Insurance has revealed a brand map of Britain, confirming ‘luxury goods’ hot spots and regional differences. The findings confirm Liverpool as the luxury brand capital of the UK, with 61 per cent of residents there owning a luxury item such as; pefume, a handbag, a watch, clothing or luggage. Liverpool is closely followed by Belfast, where three in five people (57 per cent) own high end goods, and Brighton (56 per cent). This directly contrasts with Birmingham, where just one in three (34 per cent) own luxury items, with the rest favouring the high street for their clothes and accessories.

Men are the biggest spenders on luxury goods, owning an average of £923 worth of aspirational items, in contrast to women who own an average of £751 worth of products. A further split was found in brand preference, with men preferring Hugo Boss (19 per cent) and women favouring Chanel (16 per cent).

The research also indicates that consumers’ luxury spending habits are influenced by where they live, with particular brands more prevalent in certain areas than others.

In the top luxury hot spots, the findings confirmed that Liverpool and Belfast most favour Ted Baker, with one in five Liverpudlians (21 per cent) and people from Belfast (19 per cent) owning a piece from the iconic British label. Whilst Brighton may be third in terms of residents favouring luxury goods, people living in the seaside town clearly have expensive tastes, with the most popular labels there Yves Saint Laurent and Hugo Boss (11 per cent).

Perhaps unsurprisingly, Londoners are the biggest spenders with residents possessing £1,065 worth of luxury goods on average, and 49 per cent of residents owning a luxury item. As for brand preference, those living in the big smoke have a joint preference for Hugo Boss and Chanel (14 per cent).

Those aged 34-55 are the most likely to fork out on luxury items, owning an average of £944 worth of goods compared to the most ‘brand-free’ generation, the Baby Boomers, with those 55 and over spending £204 on luxury items in the last year.

Luxury Capitals of the UK – Ranked by Percentage of Residents Who Own a Luxury Item

Source: Privilege Home Insurance

Top tips for keeping your valuables safe:

• Home security: Householders should regularly check their homes are secure against thieves. Remembering to lock windows and back doors, and set your burglar alarm are all good ways of deterring unwanted intruders when leaving your home unoccupied. Simply having visible home security devices such as alarm systems or cameras outside your property can also act as a deterrent. 

• Get covered: In the unfortunate event that your valuables are stolen or lost, it is essential that you have them covered under your home insurance policy. Insurers usually offer various levels of contents insurance depending on how much your valuables are worth, so it is important to give as accurate a figure as possible and specify items if necessary to ensure that they are covered.
• Stay up-to-date with valuations: The value of items, especially jewellery can change over time, due to fluctuations in cost of precious stones and metals. It is therefore wise to regularly have your items valued and keep your insurance up to date so your valuables are adequately insured in the event of theft or loss. It is worth revaluing your items at least every three years.
   

Christian Mendes, head of Privilege home insurance, said:

“It’s fascinating to see how people’s brand preferences change dependant on where they are across the UK.  

“With the average UK spend on luxury items standing at £860 per head, it’s a timely reminder that your contents insurance should always be up to date and covered by a quality policy which includes personal possessions away from home. This is particularly poignant seeing as the value of these items increases over time. Many day to day items such as handbags are more likely to be stolen, and as luxury handbags sit at a higher premium than a high street purchase, it’s important to think about how much this could set you back if it’s not covered on your contents insurance.”

ENDS
 

For more information, please contact: Fran Langdon or Georgia Andrewes at Richmond & Towers: 

fran@rtc.london / georgia@rtc.london / 020 3179 0720

Notes to editors:

Research carried out amongst a nationally representative sample of 2,417 UK adults by Opinium Research between 10 and 17 April 2018.

Privilege

Privilege Insurance specialises in car insurance for safe drivers. It also offers home insurance and breakdown cover by phone or on-line.

Privilege 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.

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

Customers can find out more about Privilege’s products or get a quote by calling 0345 246 0515 or visiting www.privilege.co.uk