Spending in the UK grew by just 0.1 per cent YoY in Q4 2024, while retail spending fell by 0.2 per cent, according to Barclays.
Clothing sales declined 0.8 per cent, with 48 per cent of consumers cutting discretionary spending and one in three opting for a sustainable Christmas.
While non-essential spending rose by 2 per cent, essential spending fell 1.9 per cent.