UK spending trends revealed - include £1.8 BILLION spent on non-essentials in last three months
Credit card spending trends have been revealed, including spikes in travel and home improvements – totalling £1.8 billion on non-essentials.
Virgin Money has released a report on spending between March and May by its customers this year, which also showed marked increases in clothes purchases compared to the same period last year.
Consumers spent a total of £93.3 million, up from £86.2 million year on year, with a 26 per cent increase in spending on Vinted.
Other top locations for fresh garments included Next, Zara, and ASOS.
While £495.4 million was spent on travel during the spring, a 15 per cent increase compared to the previous quarter and a 12 per cent year-on-year increase, there was a 13 per cent increase in airline services compared to the same quarter.
A spokesperson from Virgin Money said: "Clearly, the change in season got people more in the mood to spend.“
Naturally, heading into spring you can understand people will look for a seasonal change of wardrobe and a spring clean can get you in the mood for some DIY.
“But the numbers show across the board that people were spending more and confidence to do so is increasing.”
“The change in season got people more in the mood to spend”
When it comes to food and drink, a total of £194.3m was spent on eating out and on takeaways this spring, a 12 per cent increase compared to same period last year and 10 per cent up on the previous three months.
Subscription spend was also on the rise with £3.8 million shelled out, with Sky and Netflix remaining top choices for their customers.
But it was home improvements that saw a huge rise in spend, totalling £89.1 million, with the season seemingly driving DIY jobs.
This was an increase of more than £8.8 million compared to spring 2024, according to the bank’s data.
While almost £10.5 million was spent in B&Q alone.Despite mild and pleasant conditions in the UK during the spring, the numbers also revealed many were jetting off with £495.4 million spent.
And Jet2, Atlantic and British Airways were the airlines to benefit most with Premier Inn, Booking.com and Centreparcs also seeing high spend for hotels and accommodation.
A spokesperson from Virgin Money added: “We always find it fascinating to delve into the detail on where people are spending.
“The shift from winter to spring has clearly driven many to get back in the swing when it comes to trips away, with spend majorly increasing.”