Non-essential spending picked up at its fastest pace this year in September, helped by sales of tickets for Oasis’ reunion tour next year.
Overall consumer card spending ticked up by 1.2% over the month, Barclays PLC (LSE:BARC) reported on Tuesday, as non-essential transactions climbed by 2.7%.
This came as entertainment spending increased by 14.4%, aided by sales for Oasis’ concerts next year, while the likes of clothing, health and beauty transactions picked up.
Spending on essentials, including groceries, declined by 1.7% during the month, however, marking the fastest downturn since April 2020.
Barclays reported that seven in 10 shoppers had looked to get more value from weekly shops in efforts to save money, while over half kept buying treats and luxuries despite budgeting.
“Consumers are prioritising spending on things that bring them joy,” Barclays retail head Karen Johnson commented.
“While shoppers’ remain cost-conscious, it’s clear they’re responsive to retailers’ promotional activity.
“While many are anticipating a costly Christmas, there are encouraging signs that people feel confident in their ability to manage their household finances and take control of their festive spending.”