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Card spending continues to climb despite decline in retail spending

UK Card Expenditure Statistics: September 2014

  • Retail spending by card has bucked wider spending trends and continued to grow in September despite Government figures showing total retail spending dipping in the month.
  • For the fourth consecutive month, the number of purchases grew by approximately 10%, representing the highest rate of growth in a decade.

The number of purchases increased by 5.8 million, topping just over 1.0 billion for the second consecutive month.
During the third quarter of 2014, consumers made 57 million more purchases and spent £1.5 billion above the level recorded in the second quarter of that year.

Growth in the number of purchases continues to outstrip growth in the value of spend, indicating a continuing consumer preference to use cards more often for lower value payments. This is the highest rate of growth in a decade.

Richard Koch, Head of Policy at The UK Cards Association, said:

“The move from cash to card is becoming more and more evident. People are now using their card even for small purchases when they once would have used the change in their pockets.

“Contactless cards have helped to accelerate this change in behaviour as more consumers begin to see the benefits and simplicity of using contactless technology. This growth reinforces the value that cards bring to the retailers and how central they are to the UK economy.”

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