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Spend on clothing dips in January

Spend on clothing fell by 0.9% year on year in January, according to data from Barclaycard – the fourth consecutive month of decline.

Department store sales faced a similar fate, down 0.6% on January 2018. Again, this was the fourth consecutive month of the downward trend.

The research found 52% of UK adults placed less importance in the January Sales than they did three years ago, and extended discount periods have left one in four consumers disinterested.

The news comes after Drapers revealed last week that regional high streets are at risk of high numbers of vacant properties as large retailers shrink their store portfolios. 

Overall, consumer spending in January grew by 2.9% thanks to an increase in spending on essentials. However, consumers remain cautious about spending, with 70% being much more careful to seek out value for money.

 

 

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