Card sales indicate Autumn optimism for flooring
October 10, 2024
In-store card transactions for furniture and flooring were up 8% in September in a sign of some recovery in consumer confidence for discretionary spending.
While the wait to dicover the impact of the Government's budget on October 30 is deemed to have encouraged many consumers to sit on their hands for now, Barclays Consumer Spending Index has showed credit and debit card transactions up 8% by volume and 0.3% by value, compared to this time last year.
While the value growth is tiny (partly a reflection of the reduction in retail price inflation in the furnishing sector over the last year), it represents the first upturn following 20 consecutive months of decline.
Karen Johnson, Head of Retail at Barclays, said: “Retail’s recovery emerged as a bright spot in September. There are encouraging signs that people feel confident in their ability to manage their household finances and take control of their spending.”
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