News
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%)
22 Jul 2021
Easing of restrictions sees loosening of purse strings as Brits begin to return to spending ways
- Nationwide’s Spending Report shows total number of transactions made in Q2 up 20% on Q1
- Non-essential spending up 60%, boosted by holidays, eating/drinking out, gardening & leisure
- £133.7 million spent on charities between April and June – 16% up on the first 3 months of 2021
- Contactless boom continues: mobile payments up 70% on the first quarter of the year
- Travelling again: spend on taxis above pre-pandemic levels; public transport spend still down
