Consumer Spending Slumps

8th January 2018.

UK household spending fell by 0.3 percent in 2017 compared with the previous year, according to figures from Visa.

The festive period was a particularly disappointing time for retailers, with spending down 1 percent in December. This continues the poor performance that made last year the worst for consumer spending since 2012.

While there are a few bright spots in retail, sales figures have proven that the high street is attracting fewer consumers year by year.

Visa’s figures revealed that “face-to-face” spending in December fell 2.7 percent, while internet shopping continued to grow, rising 2 percent.

Mark Antipof, Visa chief commercial officer, described 2017 as a “torrid” year for retailers, as online shopping outstripped the high street.

While the UK consumer spending picture is bleak, Oxford Economics insists it is brighter on a global basis.

Tom Rogers of Oxford Economics reassures consumers that their energy bills are likely to stabilise in the coming year, easing households and encouraging spending confidence.

The Credit Protection Association is a credit management company established in 1914. If you supply goods or services on credit then we can help you!

Read about our overdue account recovery service

Read our blog – What is credit management?

Read our blog -What is a credit management company?

Read our blog -Credit Management that works!

Read our blog – How to select a debt collection agency

click to see read about our successes

Please call us on 0330 053 9263 to discuss how CPA can help your cashflow. Alternatively, either email us or use our contact form.

Construction Suppliers Demand End to Late Payments

SMEs Call For Lower Tax Rate

Ready to speak to an advisor?

For help or advice on credit management, entirely without obligation.

Call us today