Are sock buyers boosting plastic sales?

Published: 12th August 2010

Are sock buyers boosting plastic sales?
Brits spent more on plastic again in July, after a new report shows that credit and debit card spending was up on last year.

For the third month running, UK consumer on plastic was more than nine per cent higher than the same period last year, according to new figures from Barclaycard.

The credit card firm reports that year-on-year spending on credit and debit cards was 9.9 per cent higher in July and 1.9 per cent higher than in June.

Barclaycard's Spending Index takes information from across 44 retail sectors, including firms that sell men's socks and ladies tights.

Summer discounts may have helped people to part with their money, Barclaycard says, while the extra day in July will have accounted for at least some of the growth on the June figures.

The news comes after the British Retail Consortium and KPMG reported that spending in the non-food, non-store sector grew by 11.3 per cent in July.

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Posted by Davina Horne

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