The data published by Barclays earlier this week (11 April) showed that last month, grocery spending decreased by 0.5%, while spending on TV subscriptions increased by 4.1%.

The reduction in grocery spending aligns with the fact 88% of shoppers in Barclays survey said they were concerned about the impact of rising food prices on their household finances, and more than six in 10 (62%) were finding ways to reduce the cost of their weekly shop.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

As rising household bills continue to bite, Barclays states that over half (54%) of consumers said they are cutting down on discretionary spending, especially eating out at restaurants (62%) and new clothes and accessories (63%).

The high street bank adds this comes as restaurants saw a noticeable drop of -5.6%, while clothing stores saw their steepest year-on-year decline in six months (-3.4%).

As rising household bills continue to bite, Barclays adds that over half (54%) of consumers said they are cutting down on discretionary spending, especially eating out at restaurants (62%) and new clothes and accessories (63%). This comes as restaurants saw a noticeable drop of -5.6 per cent, while clothing stores saw their steepest year-on-year decline in six months (-3.4%).

See Also:

Esme Harwood, director at Barclays, explained: “The below-inflation rise in grocery spending shows that Brits are still trying their hardest to shave money off their weekly shop, as energy bills continue to rise. Cutbacks are also impacting restaurants, with a number of cash-strapped consumers even avoiding social plans that involve meals out.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Earlier this week, the British Retail Consortium reported a 5.1% increase in UK retail sales during March compared to 3.1% in March 2022.