News
21 Oct 2022
Spending drops in September as consumers cut back on costs ahead of energy price rise
- Nationwide Spending Report again sees spending fall across both essential and non-essential items
- Annual growth of non-essential spending in September marks a low point for 2022
- Spending on utilities and bills grew by nearly a quarter (23%) compared to September 2021
- Spending on subscription services falls for fourth consecutive month but childcare costs rise versus 2019
- Monthly report provides overview of c217 million debit card, credit card and Direct Debit transactions
26 Sep 2022
Summer spending draws in as consumers prepare to hunker down for darker days
- Nationwide Spending Report reveals fall in spending across essential and non-essential items in August
- Spending on debt rises month-on-month and annually, as does the amount spent on rent payments
- Recent trend of falling spend on DIY, dating, subscriptions and gardening continues as consumers cut costs
- But spend on socialising and leisure1 still rising despite cost pressures, accounting for a quarter of all non-essential spending
22 Aug 2022
British spending flipflops in summer as consumers reverse cutbacks to enjoy themselves while they can
- Nationwide Spending Report reveals rising costs across both essential and non-essential spending in July
- Essential spending up 6% in a month (12% year-on-year); non-essential jumps by 5% (14% year-on-year)
- Cost cutting reductions recorded in June reversed as all but two non-essential categories see a rise in July
- Childcare, fuel, utilities & bills, travel on public transport see biggest annual growth in essential spending
- Despite monthly spike, year-on-year figures show reductions across subscriptions, gardening, DIY and dating
25 Jul 2022
The Great British Cutback: Consumers start to slash spending to combat rising cost of living
- Nationwide Spending Report shows drop across essential and non-essential expenditure and transactions
- Nearly all non-essential categories fall in June with biggest drops in gardening, gambling and subscriptions
- Spending on fuel and electric vehicle charging only ‘essentials’ category to see a spending increase in June
- Spending Report suggests households feeling the pinch and comes as Nationwide launches new hotline
24 Jun 2022
Spend while the sun shines: Consumers balance growing cost of household bills with tonic of holidays, clothing and gardens
- Spend in May hits 2022 peak as both essential and non-essential spending rise in value and number
- Nationwide’s Spending Report shows around 14m more transactions were made in May than April
- Essential spending rises driven by bills – including fuel, travel, utilities and paying off existing debt
- But consumers have increased spending on the things they enjoy – holidays, clothing and gardening
- Credit card spend up 6% vs April (and 22% on May 2021) while month-on-month debit card spend flat
23 May 2022
Consumer spending stalemate: rising costs undermine efforts to cutback household finances
- Month-on-month growth in essential and non-essential spending broadly flat in April
- Signs of creeping costs as transactions decrease but spend levels are maintained
- Households cutting back on childcare, subscriptions, and TV, phone-and-broadband
- But clothing, gardening, eating and drinking out see small jump during the month
- Utility bills up 40% month-on-month - reflecting rising costs of energy and Council Tax
09 May 2022
Nationwide stops 2,000 more online shopping frauds a month as new payment checks show a small delay is worth its weight
- Strong Customer Authentication stops 2,000 more transactions a month falling prey to fraud
- More than two thirds are happy for payments to take a little longer if they are better protected
- More worry about losing bank card than data theft, despite nearly all online fraud relying on leaks
- 42% say SCA makes them feel safer and 27% say it makes them more likely to shop online
22 Apr 2022
Non-essential spend jumps 16% as longer and freer days put spring in the step of consumers despite cost of living rise
- Nationwide’s Spending Report tracked c217m credit, debit card & direct debit transactions made in March
- Overall spending up 16% vs February; non-essential spending (c£2.8bn) in March is highest so far in 2022
- Spending on charities was up 45% vs March 2021, with many supporting the humanitarian effort in Ukraine
- With rising petrol and diesel prices, spending on fuel and electric charging up 56% vs 12 months ago
- Credit card transactions up 29% versus March 2021 as more turn to credit to pay for goods and services
- Nationwide encourages people struggling financially to contact their bank or building society for support
21 Mar 2022
Belts begin to tighten as rising cost of living eats into non-essential spending
- Nationwide’s latest Spending Report tracked c190m transactions made by members in February
- Overall spending down 9% vs January: Non-essential spending down 4% and essential spend down 12%
- 15% increase in spending in February on utilities and other bills versus 2021 as cost of living rises
- But spending on holidays and getaways flies in face of pressure as nation prepares to take a break in 2022
- Travel spending also up 12% from January as people return to office after WFH guidance was lifted
18 Feb 2022
Consumer spending soars in January despite cost of living crisis as pandemic measures ease up
- Nationwide’s Spending Report analyses nearly 200m card and direct debit transactions in January
- Annual spending growth up 18%, despite Plan B restrictions, reflecting a country more open than last January
- Non-essential spend rockets by 43 per cent as people book holidays, flights and cruises for 2022
- Essential spend up 15 per cent on last year with spending on utilities and bills up nine percent year-on-year
- Payments via mobile phone continue to thrive – transactions up a staggering 179 per cent on January last year
23 Nov 2021
Brits back in black: Black Friday predicted to be biggest ever day of spending as normal service resumes
- Black Friday spending forecast to be 32% higher than pre-pandemic peak following 2020 dip
- Nationwide members predicted to spend more than £251,000 per minute on Black Friday
- 5pm to 12am the most popular time to make purchases on Black Friday
- Research shows 36% worry about Xmas and 26% expect to be in more debt next year
- People willing to pay more for items if they are made and delivered sustainably
- LIVE DATA: CONSUMER SPENDING DATA TO BE AVAILABLE FOR MEDIA ON BLACK FRIDAY
02 Nov 2021
Growth of consumer spending slows in third quarter of 2021 as people settle into rhythm
- Nationwide’s Spending Report analyses 620m payments, with transactions rising 10% between Q2 and Q3
- Modest three per cent increase in total spend; down on previous quarterly rise of 14% as spending stabilises
- Essentials: Data shows a 4 per cent rise in household spend - transport, fuel, debt and utilities spend up
- Non-essentials: 12 per cent rise in discretionary spend - leisure, holiday, food & drink and fashion up
- Research reveals rising cost of living impacts financial wellbeing – 74% worried; with credit usage rising
- Contactless card payments jump by 14 per cent and mobile payments up by more than a third (34%)
