Consumer spending on essential items grew in December by as much as 13.7% on a two-year basis, but clothing saw slower growth and department stores also lagged compared to supermarkets and discounters.
Value, quality, and convenience are the top three purchasing considerations for 2022, especially in the face of rising prices, a KPMG consumer confidence survey shows. Sustainability will also be key when buying goods.
More evidence came through on Tuesday showing that fashion was a key driver of retail spending in the UK last month. Two regular monthly reports (from the BRC and Barclaycard) called out fashion as a star category.
Clothing spend rose last month but the UK retail sector remains on a knife-edge with consumer confidence weak and supply chain issues a big worry, the monthly Barclaycard and BRC reports showed on Tuesday.
Fashion was a major contributor to rising consumer spending in May, two reports showed on Tuesday. Both Barclaycard and the BRC/KPMG sales monitor showed that British shoppers were in the mood to update their wardrobes.