Latest News Headlines
Commercial Credit News
|UK Card Expenditure Statistics: November 2016|
|Wednesday, 18 January 2017|
Payment card spending grew by 1 per cent in November to reach £56.0 billion, driven by a £476 million rise in debit card spending.
£13.2 billion was spent online during the month including Black Friday and Cyber Monday - the highest level since records began three years ago, and representing 24 per cent of total card spending in November.
Annual debit card spending growth, at 4.6 per cent, was double the annual growth of credit card spending (2.3 per cent).
Retail sector card spending grew by £129 million in November to £25.5 billion. Service sector card spending rose £402 million to £30.5 billion.
Spending on hobbies, toys and games and at department stores had the highest monthly growth, rising 68 per cent and 34 per cent respectively, as the Christmas shopping season began.
The debit and credit card share of total retail sales was 76.7 per cent in November.
Richard Koch, Head of Policy at The UK Cards Association, said: “November saw the strongest monthly growth in card spending in four months, with debit cards accounting for most of the increase at the start of the Christmas shopping season. The record spend online highlights the importance of card payments in internet retail, and the wider economy too.”
Forums International Ltd
Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.
Find out more here.
The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.
CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.
As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.
Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.
GTS Media Ltd
81 Cambridge Road
Registered in England No: 05483197