27/07/11
By Karen Moss
Consumer spending on the High Street and online dropped slightly for the second month in a row in June, according to Barclaycard. The figures are based on the payments processed by their Global Payment Acceptance, which processes credit and debit card payments for 87,000 businesses across the UK.
Retailers hoping for a boost to spending from the start of the summer sales were left disappointed as consumers tightened their belts amid concerns about the fragile state of the recovery. The amounts spent on credit and debit cards, both in-store and online, fell by 2.8 per cent in June compared to the previous month. However, June 2011 spending was up 5.5 per cent compared to June 2010.
Richard Armstrong, Head of Barclaycard UK Payment Acceptance said: “Overall, June was a disappointing month for UK retailers. However, with a number of retailers choosing to hold back the start of their sales until July, there is reason to be optimistic that next month's figures will paint a different picture.”
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