Whilst 2014 marked the fastest rate of economic growth in the UK since 2007, UK consumers are holding on to their savvy-shopping habits acquired from the downturn.
New research from Mintel's flagship British Lifestyles report, which tracks the activity of all consumer sectors in the UK, suggests that over the past year consumers have spent less in every area from holidays to home and garden products - with the exception of in-home food.

The top three areas in which consumers cut their spending last year were eating out, with 36% saying they spent less, alcoholic drinks out of the home (35%) and leisure and entertainment (34%).

Mintel senior consumer and lifestyles analyst Ina Mitskavets said: "The savvy shopping habits that people have adopted during the slowdown are deeply engrained and there is still a lot of ground to make up.

"Even though the growth in the economy has picked up in earnest over the past year, households have not yet seen a sustained period of earnings growing above prices in the shops, meaning that for many Britons the recovery is yet to trickle down to their pockets.

"Demand for products and services that could be considered luxuries or those that carry a more premium price tag has proved to be weak, as consumers continued putting more money into savings before committing to a purchase."