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Warm weather helps shoppers bring sunshine to high street

Figures from Visa Europe show that retail spending rose 1.5% overall in October, putting 2014 on track to be the best year for growth since 2010. Warm weather led to a 9.6% year-on-year rise in spending in hotels, bars and restaurants last month. Spending on food and drink and tobacco rose 4.4%. In contrast, spending at clothing and footwear retailers fell by 2.5%, but at a slower rate than in September. Online spending dropped by 1.5% last month while face-to-face spending increased by 2.4% in October. Retailers are now braced for the year's busiest online shopping day, Black Friday. Amazon is expected to offer more than 3,000 discounted deals during the week running up to November 28, 10 times the amount it offered four years ago.

 

Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.

 

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