Visa UK expenditure index shows consumer spending grows strong in November, boosted by Black Friday
The embargoed report is attached here for you, and below are the headline findings:
– Expenditure on the high street increases at second-fastest rate since July 2010
– Clothing & Footwear retailers see first increase in spending since August
– Hotels and Restaurants see continued strong spending
Commented on November data, Kevin Jenkins, managing director UK and Ireland at Visa Europe said: “Black Friday made the headlines as retailers’ multichannel approach paid dividends both online and in store. It certainly helped to boost footfall on the high street with November as a whole seeing the second strongest performance for any month in more than four years.
“Hotels, restaurants and bars look well set for the festive season as they saw double-digit growth last month ahead of the Christmas party season. Meanwhile, sales of clothing and footwear bounced back after the warm weather dampened figures in September and October.
“With Christmas just around the corner, consumer appetite remains positive, suggesting overall spending this year looks set to reach levels not seen since 2010.”
