Shopping with cash rises for first time in a decade

11th December 2023 Consumer Lending | #spending

New research by the British Retail Consortium (BRC) has found that cash use has grown for the first time in ten years as shoppers keep a close eye on their budgets while prices rise, retailers have said. The research found that 19% of purchases were made with money last year with retail sales rising 4.3%…

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Almost 10m adults lack confidence to make financial decisions

15th August 2023 Consumer Lending | #spending

Research by TotallyMoney has found that almost 10 million (9.8 million) adults lack confidence to make financial decisions. Over the past two years, persistent inflation has driven household finances to the brink, with almost one in three adults (29%) saying they would be unable to cover an unexpected £100 expense*. At the same time, 11…

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One in four spending more than they have earnt

New research by Hargreaves Lansdown has found that one in four spending more than they have earnt creating a risk of running up debts. The study also found that higher-income households are borrowing more as a percentage of their income – and have a bigger share of their borrowing on variable rates and are more…

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Households card spending increases 4%

Household spending increased last month but continued to trail behind inflation rates, according to new figures from Barclays. The figures showed that consumer card spending rose four per cent year on year in March, less than half the latest CPIH inflation rate of 9.2 per cent, as consumers made further cutbacks to cope with the cost-of-living…

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Shoppers spent £8bn in January whilst BNPL use increases

Consumers Spent £8 billion online in January whilst the use Use of Buy Now Pay Later (BNPL) rose to 12% according to research by Adobe analytics The data shows that UK consumers spent £8 billion online in January, 26.7% less than in December 2022, and a year-on year decrease of 1.4%. It also identified an…

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Two-thirds of consumers are planning to cut spending in 2023

4th January 2023 Consumer Lending | #spending

Two-thirds of consumers are planning to cut their discretionary spending in 2023, according to KPMG, with a poll showing that just 4% will be able to increase their non-essential spending levels in the coming year. The survey shows that one in ten respondents have no savings, while 43% of those who do have savings are…

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Consumer spending rises 3.5% as cut backs continues

9th November 2022 Consumer Lending | #spending

Consumer spending rose 3.5% in October but the hospitality and leisure industries continue to struggle as Britons cut back ahead of Christmas, according to latest data from Barclaycard. As petrol and diesel prices started to creep up again, fuel spend rose 17.7 per cent year-on-year, 6.6 percentage points higher than last month’s uplift (11.1 per…

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Hot weather boosts spending despite hospitality and overseas travel slowdown

10th August 2022 Consumer Lending | #spending

Consumer card spending grew 7.7 per cent in July compared to the same period in 2021, and 1.6 per cent compared to June 2022, as consumers spent more on clothing, beauty and staycations as the summer holiday period began according to new analysis by Barclaycard. The analysis also highlighted that consumers are starting to cut…

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Half of consumers reduce spending

29th July 2022 Consumer Lending | #spending

Half of consumers have cut back spending to cope with the cost of living crisis, although financial resilience appears robust, according to figures revealed in TransUnion’s latest Consumer Pulse study. Over 50% of consumers surveyed indicated they’d reduced their expenditure in the last three months and intend to decrease it further as the year progresses. Whilst all spend…

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More than half of households cutting back on energy use

More than half of UK households (52%) cutting back on gas and electricity use according to the latest Office for National Statistics (ONS) figures. Average energy bills for families on a standard variable tariff went up by 54% in April after a change in the government price cap. The research found that more than 40%…

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Consumer spending jumps 19% 

22nd March 2022 Consumer Lending | #spending

Consumer spending grew by close to a fifth (19%) in February compared to the same month in 2021, despite the rising cost of living starting to show signs of impacting behaviour, according to Nationwide’s latest Spending Report. The Spending Report is a full monthly breakdown of around 190 million debit and credit card and direct…

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One in three people overspent even before prices rocketed

10th March 2022 Arrears and Recoveries | #spending

New ONS data has indicated that one in three people (35%) were spending more than we made, even before the pandemic, so the cost-of-living squeeze is set to cause enormous problems. More than half (57%) of single people of working age overspent before the pandemic: a higher percentage than any other household type with 43%…

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One in four will struggle to afford Christmas this year

10th December 2021 Arrears and Recoveries | #spending

Rising living costs, reduced incomes, and cuts to support among the easons more people than last year will turn to borrowing to pay for the festive season according to research by StepChange debt charity. The report says that this Christmas will be a time of financial distress for many households, with more people expecting to…

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