Card spending increased by 10.6% in 2022

Consumer card spending grew by 10.6% in 2022, according to data from Barclaycard, with the amount spent on debit and credit cards climbing year-on-year as people returned to shopping in-store, eating and drinking out, and booking holidays.

Spending on essential items grew by 6.3% – thanks to a 28.3% rise in fuel outlay that was driven by surging petrol and diesel prices and increased car use, post-pandemic. Spending on utilities grew by 32.9% over the year as the cost of energy soared.

The report also shows that retail spending dropped 0.8% over the last year. While high street retailers received a welcome boost, with sales increasing by 8.3%, there was a 12.2% fall in online shopping spending.

With food price increases continuing to climb through 2022, there was a 0.1% reduction in grocery spending. DIY retailers saw a 5.5% drop in the value of consumer spending, while sales volumes dropped 7.5%. Electronics sales were down 7.2% in 2022 and furniture stores saw revenue slip by 3.2% compared to 2021.