LONDON is a city of unashamed spenders when it comes to clothing, according to new research released yesterday that estimates Britons’ wardrobes to be worth a staggering £38.5bn.
The report, released yesterday by Allianz Insurance ahead of London Fashion Week, surveyed more than 2,000 Brits about their shopping habits and found that women value the contents of their wardrobes at around £856 compared with £677 for men.
Those living in London have the most expensive wardrobes at £898, while consumers living in the West Midlands have the least expensive (£714).
On average, Britons said their most expensive item of clothing was worth £165, although in London that was higher at £193.
Londoners also spend the longest time on each shopping trip, at 74 minutes – both online and on the high street – compared with 60 minutes for the average UK shopper.
People in the capital also admitted to spending around £80 per trip, which is £17 higher than the rest of Britain, Allianz Insurance said.