Brits aged 25-34 are set to spend £1066 in January on ‘self-improvement’, triple that spent by Baby Boomers aged 45-54, new data from eBay has revealed.
Savvy millennials are planning to sell gifts they received at Christmas that weren’t quite right for them to be able to splash the cash on themselves, with 45% selling them online** to fund new projects and declutter their homes.
A new style, from clothes and hair to beauty products, is where the most money is spent (£220.40), followed by dieting (£139.50) and then new fitness equipment (£111.30).
Outspending all their previous generations by up to £837.90 in January alone, Millennials also spend their hard earned cash on taking up a new class or hobby (£91.30) and their gym membership (£72.70).
Will Weightman, Senior Director, Consumer Selling, eBay UK, said: “Re-selling gifts that just missed the mark for you, as opposed to cluttering up you house, is a great way to fund new projects. eBay sees an influx of products going on sale between Christmas and New Year as sellers look to re-sell presents they don’t want to keep.
“We also see a spike in sales of ‘self-improvement’ items such as fitness, dieting and wellness products during the first few weeks of January as buyers look for ways to start the year off with the very best intentions.”