News

• Expanded group consists of major UK retailers and consumer groups and will meet each quarter
• Panel will measure and assess impact of Brexit and Covid as nation hopes to recover and rebuild
• Nationwide focussing future efforts on four areas: Home, Work, Financial Wellbeing & Community
• Initial research from Ipsos MORI reveals changing societal needs across these four areas of life

• Quarter of Brits chose getting a bargain over protecting themselves against scams, poll shows
• Four in ten would buy from a website or company they've never heard of in order to bag a deal
• Around three in ten have transferred money directly into seller's account despite risk of scams
• Close to a third don’t know how to identify a safe website and a fifth fail to research the sellers

• Transactions expected to fall by up to 20% drop due to second national lockdown – the first year on year fall since Black Friday was introduced to the UK a decade ago
• Nationwide members still expected to collectively spend nearly £155,500 a minute
• Research reveals Brits will spend an average of £172 on Black Friday and £160 on Cyber Monday
• Many to regret impulse buys as a fifth confess to having returned purchases they made last year
• Live data: Consumer spending data to be available for media on Black Friday and Cyber Monday

• Seven in ten undergraduates fear they won’t be able to get part-time work due to Covid
• More than half say they will be left with more debt if they can’t find work at university
• 38% expect to spend less this year as a result of the impact Covid will have on them
• New financial concern this year as 40% admit they don’t know how they’d pay Covid fines
• Nationwide FlexStudent rated one of the UK’s best student current accounts for 2020

With the impending lockdown, Nationwide has been seeing a peak in spending

• Start to Save prize fund nearly doubles as twice as many hit threshold for second prize draw
• 137,000 Start to Save accounts opened by end of September - up 90k since end of April
• Prize fund stood at £89,700 with one in 37 chance of winning, equating to 897 winners

• Ratcheting up of lockdown measures hasn’t seen another surge in supermarket spending
• Total spend across supermarkets (10 Aug – 4 Oct) up by 23% on same period in 2019
• Spend in supermarkets up 10% against earlier in 2020 but without weekly spikes
• London sees biggest increases in spend: six times more than Scotland and Northern Ireland
• Eat Out to Help Out data shows spend fell except on Fridays and Saturdays in 4 weeks after it ended

• 80% of homeowners aged over 50 willing to improve and adapt home to live independently for longer
• Half (51%) of those expecting to make changes in their home expect to spend £5,000 or more on the improvements
• Cost of age-proofing home is £6,507, slightly less than the annual state pension
• Nationwide offers free consultations on borrowing to pay for future-proofing homes

• In 2019 nearly two thirds of multi-use ATMs saw more cash deposited than withdrawn; rising to more than nine in ten in 2020
• 2020 first year where non-cash usage has outweighed number of cash withdrawals
• Cash still king in Capital as east London market towns top ATM usage league

• Nationwide customer data shows 46% drop in holiday spend compared to last year with research showing 44% have abandoned travel plans due to impact of Covid-19
• 32% will enjoy UK staycations, aiming to spend average of £480 boosting local economies
• A fifth use money saved during lockdown to treat themselves to a well-deserved break
• Analysis of Nationwide data shows spike in holiday transactions since lockdown eased

• 47,318 accounts open by end of April
• 17,901 of them saved between £50 and £100 each month between April and June
• Total prize fund £45,800 with one in 39 chance of winning
• As of 30 June, 83,806 Start to Save accounts opened – all potentially eligible for October prize draw – with nearly £16m saved in total
• 52% of accounts opened by 18-39-year-olds vs 28% for all types of savings accounts

• Nationwide Savings Index reveals evolution of saving habits under lockdown
• Savings Index includes poll of more than 10,000 people across Great Britain
• 37% have saved more during Covid-19 period, rising to 45% those aged 18-34
• Half of younger savers think their savings habits will change post Covid-19
• Nationwide’s own data shows people not dipping into savings during lockdown
• Average savings buffer people think they need for future pandemic is £12,212
• As restrictions lift, Nationwide is encouraging people to continue saving regularly