Fashion was a major contributor to rising consumer spending in May, two reports showed on Tuesday. Both Barclaycard and the BRC/KPMG sales monitor showed that British shoppers were in the mood to update their wardrobes.
Online sales continued to grow in the UK during March with a 71.7% year-on-year increase, although given how much of a shock to the system the first lockdown was in March 2020, the strength of the rise was no surprise.
The series of national lockdowns has resulted in significant changes to the way Britons consume goods, including what they buy, the channels they buy through and how they pay, according to new research.
British consumers cut back heavily on spending as they spent a second month in a Covid-19 lockdown in February but confidence in the economy hit a 12-month high, payment card firm Barclaycard said on Tuesday.
Physical shops may be closed, but 52% of UK retailers are offering products specifically for Valentine’s Day. And 41% are expecting the event to give them a sales boost with average expectations of a 26% increase.
Consumer spending fell 2.3% year-on-year in December as areas moving into higher tiers, and reimposed lockdowns, dented the kind of activity usually seen in the festive season. But online was a bright spot.