Consumer spending news and archive

UK retail sales edge up as fashion outperforms in a subdued Golden Quarter

UK retail sales painted a nuanced picture in November as the Office for National Statistics data showed modest resilience beneath a soft monthly headline. While total sales volumes dipped slightly over the month, fashion and non food categories continued to hold steady, reinforcing the sense of selective rather than broad based consumer spending...

Retail

UK retail sales stall as shoppers hold back for Black Friday

UK retail sales growth slowed in October as consumers held back spending ahead of Black Friday promotions, with fashion and non-food categories showing only marginal gains. According to the British Retail Consortium (BRC)-KPMG Retail Sales Monitor, total retail sales rose 1.6 percent year-on-year in October, below the 12-month average of 2.1...

Retail

US consumer spend for Halloween predict to reach record 13.1 billion USD

Consumers across the nation are expected to go all out this Halloween, as the National Retail Federation (NRF) predicts spending for the spookiest holiday to reach a record-breaking 13.1 billion US dollars. Based on the annual consumer survey conducted by Prosper Insights & Analytics, this is close to one billion dollars more than the previous...

Retail

NRF projects $5.42 trillion in 2025 retail sales amid global economic uncertainty

US retail sales are forecasted to grow between 2.7 percent to 3.7 percent in 2025, reaching 5.42 to 5.48 trillion dollars, according to the National Retail Federation (NRF). This projection was shared earlier this week, during the NRF’s annual State of Retail & the Consumer event, and reflects economic momentum driven by low unemployment and...

Retail

January storms boosted online and non-essential spending in the UK

Essential spending returned to growth in January after four consecutive months of decline, while wellness and social media trends drove discretionary purchases, according to new data from the Barclays Consumer Spend report. Despite falling consumer confidence in the UK economy, down five percentage points to 21 percent, spending on essential...

Retail

Industry leaders comment on September retail sales growth

Retail sales rose by 0.3 percent in September and increased 3.6 percent by value and 4 percent by volume. Three industry leaders comment on the latest figures: Kris Hamer, Director of Insight at the British Retail Consortium, said: “September saw the strongest retail sales growth since January, and the highest sales volume since March 2022. This...

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3 new global luxury spending markets emerge despite much-documented slowdown

As FashionUnited has reported, Gucci’s sales have tumbled in the first quarter of 2024, falling by 20 percent mostly due to a slowdown in Asia, while Kering’s overall revenue is forecast to be down 10 percent compared to Q1 last year. The group’s other brands, Saint Laurent, Bottega Veneta and Alexander McQueen, have also taken a hit, and after...

Retail

Consumer card spending growth flatlined in March

Non-essential spending growth hit an 18-month low in March in the UK, as a new report from Barclays shows that consumer card spending growth flatlined, on par with February’s modest 1.9 percent uplift and significantly less than the latest CPIH inflation rate of 3.8 percent. This was due to a slowdown in non-essential spending, which saw its...

Retail

December consumer spending grew but retail spending stalled

Consumer card spending grew 2.3 percent year-on-year in December 2023, less than the latest Consumer Prices Index inflation rate of 4.2 percent and lower than November’s growth of 2.9 per cent, according to the latest data from the Barclays Consumer Spend report. While entertainment and travel bookings thrived, Barclays said that retail spending...

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Retail

September’s sun “boosted” high street spending

Consumer card spending grew 4.2 percent year-on-year in September as the late summer sun boosted in-store spending across the UK, according to the latest Barclays report. September’s growth was less than the latest CPIH inflation rate of 6.3 percent, but higher than August’s growth figure of 2.8 percent, with spending on non-essential items...

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Retail

High street spending slowed during rainy August

High street sales were hampered by wet weather in early August, reveals the latest consumer card spending index from Barclays, as fewer Brits visited shops. The report reveals that while consumer spending grew 2.8 percent year-on-year in August, it was noticeably lower than the latest CPIH (Consumer Prices Index including owner occupiers'...

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How will inflation affect consumer spending?

The multi-million dollar word on every retailer’s lips right now is inflation. Despite the Inflation Reduction Act passing through the House and the Senate, and signed by President Biden, inflation is still poised as an issue for the state of the economy. CNBC recently reported that 70 percent of Americans are looking for extra work to combat...