Survey says cautious over 55s would rather spend cash on DIY and "Brand Me" than new underpants
· Only 6% of men over 55 will plan to buy new underwear as signs of economic recovery appear
· 39% of older men plan to invest in home improvements
· 36% of 16 – 24 year olds plan to buy new underwear in light of upturn
· Over 55s five times more likely spend money on professional development than under 24s
According to a survey released by money saving website, DiscountVouchers.co.uk today, the theory that men buy new underwear when they feel good about the economy (the Men's Underwear Index,) does not apply universally. It would appear that men in the UK over the age of 55 are more sceptical about the signs of an economic recovery, preferring more cautious purchases such as: home improvements, better grooming and career enhancing training courses.
The survey which questioned 500 respondents about how reports of an upturn had changed their attitudes to spending showed that six times more men between the ages of 16 – 24 (36%) would be buying new underpants than men over the age of 55 (6%,) suggesting that younger men are more optimistic about the longevity of the recovery or more fashion conscious about their underwear.
39% of men over 55 are instead expressing the "feel good factor" by choosing to spend more on home improvements where, with escalating house prices, they are more likely to see a return on their investment. The baby boomers are also investing in "Brand Me". A significant number of the older age group of men planned to improve their personal appearance with 30% saying they would spend more on grooming while they were five times more likely than 16–24 year olds to invest in a training course to develop their personal skills, according to the survey.
DiscountVouchers.co.uk CEO Gareth Robinson commented. "The older guys have seen short term recoveries come and go. Also, they are more likely to suffer the sobering impact of increased energy prices. They aren't going to waste their cash needlessly replacing 'perfectly good,' if a little threadbare, 20 year old underpants but they will spend money if it will improve the value of their home or help their career prospects."
Men in the Yorkshire and the Humberside region ranked lowest in the undies stakes with just 3% across all age groups saying they would be upgrading their smalls while men in the West Midlands seem exceptionally positive in the underpants department with 27% saying that the recent upsurge puts them in the mood to splash out on a new set of briefs.