In September, British shoppers spent a little more than last year, especially on entertainment, thanks to ticket sales for Oasis’ reunion tour. Barclays reported that spending on fun activities, like concerts, went up by 14.4%, the biggest increase since July 2023 when Taylor Swift tickets went on sale in the UK. In fact, Oasis’ first reunion rehearsal began recently as well.
Oasis, reuniting after 15 years, helped boost spending. Another report from the British Retail Consortium showed more people buying non-essential items, even though there are worries about upcoming tax increases and rising energy bills.
Shop spending grew by 2.0% in September, the best since March, but lower than the 2.7% rise seen last year. With energy prices going up by 10% in October, people are anxious about how new taxes from finance minister Rachel Reeves’ budget, due on October 30, will affect spending.
Barclays also said that spending on credit and debit cards increased by 1.2% in September, the most since April. However, because inflation stayed high, this actually means people were spending less overall. Shoppers also spent less on essential items, like groceries, marking the biggest drop since the COVID-19 pandemic in April 2020.
