The UK Cards Association has published the card spending statistics for January, revealing that expenditure was £57.1 billion – up £5 billion on January last year.
Online spending amounted to 27 per cent of total card spending, with 176 million purchases worth £15.3 billion.
Retail sector card spending grew by £134 million in January, to £25.7 billion, with the largest increases coming from automotive fuels and food and drink. The service sector grew by £334 to £31.4 billion, while the entertainment sector proved to be a strong contributor to growth.
The debit and credit card share of total retail sales was 77.4 per cent in January.
Richard Koch, head of policy at the UK Cards Association, said: “Payment card spending continued to increase in January, as did cards’ total share of retail sales. These figures once again show consumers’ preference to reach for cards instead of cash when they pay for goods and services.”
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