Visa released its annual Retail Spend Monitor, showing UK holiday retail spending increased 3.6% year-over-year based on preliminary data. These figures are not adjusted for inflation.
E-commerce sales saw a significant rise of 5.8%. In contrast, total in-store spending increased by 2.1%. Physical stores still accounted for the majority of purchases, representing 57.4% of the total spending.
Electronics led growth among retail segments, posting an 8.4% increase. This indicates strong consumer demand for personal technology products during the holiday season.
Data from Visa Consulting & Analytics provides a comprehensive overview of consumer behavior. The findings highlight the continued importance of physical stores alongside the steady growth of online shopping. No market reaction analysis to this specific announcement was available.