Consumer spending exceeds pre-pandemic levels amid online boom
Consumer spending rose from pre-pandemic levels in 2021 as the boom in online shopping continued, the figures show.
Barclaycard said consumer credit card spending rose 5.9% in 2021 compared to 2019, despite closing stores, hospitality and leisure businesses for a significant portion of the year.
The credit card giant said hospitality and leisure spending had been significantly affected by the periods of restrictions.
However, he added that social distancing measures and other virus brakes have boosted demand for indoor experiences and outdoor activities, with shoppers spending more on digital entertainment and at outdoor retailers and sport.
Local food retailers, take-out and digital entertainment continued to perform well, driven by British demand for convenient, local and home shopping experiences
The home improvement boom as people spruced up their homes after periods of foreclosure also continued from 2020 until last year.
Jose Carvalho, Head of Consumer Products at Barclaycard, said: â2021 has been another difficult year as the pandemic has continued to hamper the UK economy.
Video: Covid in numbers: December 18 update – 90,000 new infections – up 44% from 7 days ago (Liverpool Echo)
Click to enlarge
âHowever, categories such as local food retailers, take-out and digital entertainment continued to do well, driven by demand from Britons for convenient, local and home shopping experiences.
âAdditionally, with more time spent working from home, Britons continued to invest in their households, which has resulted in strong growth for DIY stores and pet stores. “
Barclaycard data showed homeowners were spending more on their properties, with spending on renovations and DIY up 26.2% and furniture up 19.8%.
Consumers also brought more pets to their homes, leading to a 29.1% increase in spending on vets and pet stores.
The staycation boom saw UK hotels and resorts rebound this summer, growing 3.7% in June and 15.9% in August.
Clare Bailey, Founder of Retail Champion, said: âIt is encouraging to see that many categories have grown in another turbulent year.
‘Local stores continue to be supported by community-conscious Britons, while sports, clothing, and health and beauty retailers have all seen increases as the nation enjoys life after lockdown .
âWhile Omicron’s economic impact remains to be seen, we can admire the retail, hospitality and leisure industries for once again adjusting to ever-changing circumstances and overcoming so many challenges. This year. “
Sign up now for one of the Evening Standard newsletters. From a daily press briefing to home and property information, lifestyle, attractions, deals and more. For the best stories delivered to your inbox, click here.