Consumer Card Spending Grows at Slower Rate in May as Brits Curb Discretionary Purchases
365 Retail
JUNE 6, 2023
This slowdown reflects Brits cutting back on discretionary purchases to manage mounting inflation and rising food prices. A quarter (26 percent) of shoppers stated that they are reducing their purchases of new summer outfits due to the rising cost of living, and over a third (35 percent) plan to reuse their old summer clothes to save money.
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