Consumer card spending in furniture stores declined during July 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 declined 5.9% – down for a nineteenth consecutive month, while transaction growth was flat at 0% against the same month last year.
Home improvement and DIY stores saw spending growth fall 7.5%, with transaction growth down 2.7%. Department stores saw spending growth decrease 3.1%, with transaction growth down by 0.8%. Discount stores saw a decline of 7% in spend growth, while transaction growth was down 9.8%.
Overall, consumer card spending fell -0.3% year-on-year in July – a slight improvement on June (-0.6%) but noticeably lower than the latest CPIH inflation rate of 2.8% – as the mixed weather across the month, combined with Brits’ selective discretionary spending, continued to pose challenges for retailers.
Karen Johnson, Head of Retail at Barclays, said: “Shoppers and retailers alike will be ready to see the end of the summer showers. It’s encouraging to see seasonal staples such as BBQ supplies, beauty buys and holiday planning delivering signals of steady recovery.
“Despite England losing in the nail-biting final of the Euros, UK hospitality emerged as a true winner, when the Euros delivered a boost for pubs, bars and clubs. With the final days of the Olympics in Paris, Taylor Swift’s return to a sold-out Wembley Stadium for her final UK Eras Tour dates, and a heatwave on the cards, we hope summer spending will finish strongly in August.”