Consumer card spending growth remained flat in December at 0.0% year-on-year – below the latest CPIH inflation rate of 3.5%.
According to the latest data from Barclays, essential spending dropped by 3.0% in the final month of 2024, with nine in 10 adults concerned about both rising food prices (86%) and household bills (87%).
This was reflected in the slowdown in supermarket spending, down 2.0%, as two in three UK consumers looking for ways to get more value from their weekly shop or reduce how much they spend.
Some 55% are looking out for loyalty scheme discounts and deals, 51% are using vouchers or loyalty points to get money off their shopping, and half are also buying more discounted items.
Home comforts
The Barclays Consumer Spend report did see spending at garden centres grow by 3.1%, as seasonal discounts encouraged people to invest in small “tweakments” and outdoor decorations for their gardens. Christmas tree purchases also likely contributed to this boost.
Additionally, furniture stores saw an increase of 1.7%, the category’s highest level of growth since March 2022, as consumers shopped for gifts and home improvements ahead of Christmas.
Karen Johnson, head of retail at Barclays, said: “Consumers demonstrated their ability to carefully manage their money once again in December, finding ways to save while still sprinkling in some cheer, setting aside funds to treats themselves and loved ones over the festive period.”
When looking at 2025, Barclays predicted health and fitness will be high on the agenda for those making New Years resolutions. Financial wellbeing is also a clear priority; over one in four are setting goals for 2025 to save more each month.
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