Consumer card spending in furniture stores fell during July when compared to last year, while transaction value showed an increase, 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 -1.6%, while transaction growth was up 1.9% against the same month last year.
Home improvement and DIY stores saw spending growth decrease -0.7%, with transaction growth up 0.5%. Department stores saw spending growth decrease -2.3%, with transaction growth down by -7.5%, while garden centres saw spending growth rise 4%, with transaction growth up by 0.4%.
Overall, consumer card spending grew by 2.0 per cent year-on-year in July, following a 1.9 per cent increase in June, but remained below the latest CPIH inflation rate of 2.8 per cent. Essential spending grew 2.9 per cent and non-essential spending increased 1.6 per cent, with England’s run at the World Cup, the July heatwave and recovering consumer confidence all contributing to the uplift.
Rohan Kumar, Head of Spend Insights at Barclays, said: “Card spending strengthened further in July, reaching its highest level for 12 months, with both essential and non-essential spend remaining in growth. Multiple factors played a part, with UK staycations, continued warm weather and England’s World Cup run lifting spending on travel, hospitality, everyday essentials and seasonal retail categories.”
