Visa Consumer Spending Index May 2020
Visa's UK Consumer Spending Index also eased on record declines, with spending volumes down by 19.9% in May compared to 27.8% in April.
Face-to-face spending plummeted 33.3% in May as lockdown measures took its toll on physical retail sales. The performance of ecommerce improved on recent months, but remained in negative territory with spending edging down by 0.5% year-on-year in May.
Visa Consumer Spending Index – May 2020
Volumes fell in six out of the eight categories monitored in May, with Food and Beverages & Tobacco (+36.3%) reporting a rise, as well as Household Goods (+4.5%) as hardware stores reopened mid-month.
Meanwhile, significant declines continued across Hotels, Restaurants & Bars (-69.7%), Transport and Communication (-56.0%), Health & Education (-52.6%), and Clothing & Footwear (-37.1%) compared last year.
Visa Consumer Spending Index – Three months to May 2020
Source: Visa (note: data not adjusted for seasonality)
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