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Consumer Spending Sees Overall Growth In UK

Published on Jul 12 2018 9:30 AM in Retail tagged: Summer / Consumer Spending / World Cup / Barclaycard

Consumer Spending Sees Overall Growth In UK

Consumer spending in UK supermarkets rose by 0.8% in June 2018, when compared to June 2017, according to the latest data from credit card and payment services provider Barclaycard.

Online sales for supermarkets increased by 15.6%, while in-store sales decreased by 0.2%.

Overall, consumer non-essential spending rose by 5.1% this past June, compared to the same month the previous year.

Esme Harwood, a director at Barclaycard, said in a press release that consumer spending maintained its strong growth in June for the second month in a row, maintaining the high level set in May. This growth in non-essential spending is the best performance since October 2016.

World Cup Fever

The start of the World Cup led to 9.5% overall growth in pub spending in June, with a sharp increase of 33% on the day of England’s first match, Barclaycard noted.

The first seven days of the World Cup saw a 10% rise on entertainment expenditure.

Entertainment spend recorded 11.3% growth, which is the highest increase since July of last year. Restaurants have also seen a 9.7% increase.

Sunny Forecast

Garden centres have seen an increase of 10.5% in the last month as well. Overall, 33% of Brits have spent more than normal so far this summer, with 28% of them attributing it to the uncharacteristically warm weather.

Some 65% of consumers said that they feel more confident in their household finances – the highest level of confidence seen in the last 12 months.

Similarly, 42% of Brits said that they want to support their high-street shops, following recent store closures across the UK. Some 21% said that they would try to support local business by visiting independent shops, and 19% said that they would try to buy in-store items instead of ordering them online.

However, supermarket growth dropped to 0.8% – its lowest level in 15 months – while essential spending grew by 3.2%. Some 42% of Brits also said that they are holding off on any big-ticket expenditures, remaining somewhat wary of the economic situation.

© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Padideh Aghanoury. Click subscribe to sign up to ESM: European Supermarket Magazine.

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