September 2108 consumer spending image
09Oct, 2018

Spending in September 2018 is up 3.9%

After a higher than normal summer of consumer spending growth returned to familiar territory. Year on year growth during September 2018 was a modest 3.9%.

Barclaycard process around half of all the UK’s card transactions. Here are the key points from their September 2018 consumer spending report:

  • Spending was up 3.9%.
  • Petrol prices remained high which provided some of this growth. It also helped push essential spending to 4.6% growth.
  • Consumers are continuing to favour spending on experiences. Spending was up in pubs, restaurants and ticketed events.

Where was the growth?

Essential spending grew 4.6% which was a robust performance, but down on July and August. Petrol contributed significantly this area as prices was up 8.9% compared to September last year.

Entertainment saw a significant 11.6% growth. The main factors were: Pubs (up 11.5%), Restaurants (9.5%) and ticket sales (up 7.1%).

Furniture sales fared particularly well. This area saw 6.2% growth, the best performance this year.

How are people feeling about their spending?

After an expensive summer consumers are definitely closing their wallets and purses more often. With the festive period fast approaching consumers are taking extra steps to re-balance their budgets. Additionally 46% of consumers say they are planning to spend less on Christmas this year compared to last year.

There continues to be an over-arching concern about the UK’s economic landscape. 62% of UK adults do not feel confident about the UK economy. Areas of particular concern are rising fuel prices, and the affordability of non-essential goods with 45% saying that they are not confident in their ability to spend in this area.

How did our customer’s categories perform?

Here is how the industries performed year on year in September 2018.

Y/Y Spend growth by category
Auto Parts & Accessories1.70%
Department Stores-7.80%
DIY Stores2.50%
Vehicle Sales-3.00%
Furniture Stores6.20%
Household Appliances-12.80%
Garden Centres4.00%
Discount Stores-13.20%
Gift Shops-2.50%
Floor Covering Stores0.30%
Electronic Stores-2.00%

Click here to see the full Barclaycard report.

About The Author
I am a proud husband, father and space-nerd. I love business and data so I try to combine the two as much as possible. This passion led me to launch Geopify.