Consumer card spending with travel agents grew by 7.5% in December compared with the same month in 2023, according to Barclays.
The number of transactions with travel agents rose by 17.8% year on year, while travel overall recorded spend growth of 4.7% and transactions growth of 3.4%.
The bank’s analysis suggested essential spending fell by 3%, with essential transactions down by the same rate, but these cutbacks were offset by discretionary spending – this grew by 1.5% and transactions grew by 2%.
More: Travel agents boosted by ‘significant’ spending rise in 2024
Karen Johnson, head of retail at Barclays, said: “Brits are planning to prioritise memorable moments in 2025, with travel emerging as a clear spending priority.”
The bank claimed spending with travel agents might have been boosted by ‘Travel Tuesday’ deals. The occasion, which is the day after Cyber Monday, fell on December 3 this year.
Three quarters (74%) of consumers said they planned to travel in 2025, which the bank has taken to suggest spending momentum will continue.
Spending with airlines grew by 3.6%, though the number of transactions fell by 0.8%.
Overall, taking into account all spending categories, consumer card spending was flat against December 2023.
People made cutbacks amid inflation concerns, the bank said, with nearly nine in 10 reporting they were worried about rising food prices (86 per cent) and household bills (87 per cent).
Supermarket spending fell by 2% as two in three Brits (64%) said they were looking for ways to get more value from their weekly shop or reduce how much they spend.
Nearly half (48%) of consumers surveyed said they were planning to cut down on discretionary spending, yet two in five Brits (40%) reported that they were treating themselves and their loved ones in December despite the impact on their household finances.
Online shopping (excluding groceries) recorded growth of 2.6%, while face-to-face retail (excluding groceries) declined by 1.2%.
One in five (17%) Brits reported shopping online more frequently in the month, opting to purchase Christmas gifts from home.
Johnson said: “Consumers demonstrated their ability to carefully manage their money once again in December, finding ways to save while still sprinkling in some cheer, setting aside funds to treat themselves and loved ones over the festive period.”
The spending comparisons related to the period November 16 – December 23, 2024, as against November 16 – December 23, 2023.
The survey, generating 2,000 respondents, was carried out by Opinium Research on behalf of Barclays between December 13 – 18.
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