Consumer card spending in furniture stores fell during November when compared to last year, says new data from Barclays.
According to the latest Barclays Consumer Spending Index, which includes both debit and credit cards, furniture store spending growth decreased 3.6%, while transaction growth was down 0.8% against the same month last year.
Home improvement and DIY stores saw spending growth fall 5.6%, with transaction growth down 8.2%. Department stores saw spending growth decrease 2.2%, with transaction growth up by 3.1%. Discount stores saw a decrease of 2.3% in spend growth, while transaction growth was up 0.1%, and Garden centres experienced an increase of 4.2% in spend growth and an uptick of 2.6% in transaction growth.
Overall, consumer card spending contracted -0.5 per cent year-on-year in November – the first decline since July and significantly lower than the latest CPIH inflation rate of 3.2 per cent. Essential spending saw its steepest fall in over five years, down -3.1 per cent. However, non-essential spending remained in growth, at 0.8 per cent, supported by a strong performance from bars, pubs, and clubs (3.5 per cent) and entertainment (10.8 per cent) as Brits prepared for the festive season and enjoyed blockbuster releases at the cinema.
Karen Johnson, Head of Retail at Barclays, said: “Brits are still prioritising quality time out with family and friends, evidenced by the strong performance of pubs and cinemas in November. People are finding to find ways to enjoy life’s little luxuries, and the festive season is no exception, with consumers making cutbacks so they can afford magical moments.
“After a tentative recovery, retail’s performance was dampened in early November. However, many shoppers use the Black Friday sales period to get discounted gifts for loved ones and cross items off their wishlists, providing a boost for retailers.”