Consumer card spending in furniture stores rose during September 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 increased 0.3% – ending a run of 20 consecutive months of decline, while transaction growth was up 8% against the same month last year.
Home improvement and DIY stores saw spending growth fall 5%, with transaction growth down 6.3%. Department stores saw spending growth increase 5.5%, with transaction growth up by 8.4%. Discount stores saw a decline of 5.7% in spend growth, while transaction growth was down 7.5%, and Garden centres experienced an uptick of 1.7% in spend growth and an increase of 3.3% in transaction growth.
Overall, consumer card spending increased 1.2% year-on-year in September, after returning to growth in August, but remained lower than the latest CPIH inflation rate of 3.1%. Non-essential spending saw its highest growth so far this year, at 2.7%, as retailers’ discounting incentivised shoppers. Several retail sub-categories enjoyed a strong performance, such as clothing, health & beauty, and department stores, while entertainment spend increased 14.4%.
Karen Johnson, Head of Retail at Barclays, said: “Retail’s recovery emerged as a bright spot in September, despite there being colder weather and darker evenings on the horizon.
“While shoppers’ remain cost-conscious, it’s clear they’re responsive to retailers’ promotional activity. Discerning shoppers are also finding room for treats and little luxuries within their budget, demonstrating that consumers are prioritising spending on things that bring them joy.
“While many are anticipating a costly Christmas, there are encouraging signs that people feel confident in their ability to manage their household finances and take control of their festive spending.”