Strikes see Londoners spending more online than high street

A new analysis of bank transactions in the run-up to Christmas has revealed that spending at discount stores has increased by 12 per cent, compared to the same time last year.

As high inflation continues to squeeze incomes, bank data analysed by the personal lender Abound found that significantly more individuals are trying to save on their day-to-day spending opting for stores such as Poundland, Lidl and Aldi compared to supermarket stores like Sainsburys, Waitrose and Tesco.

The shift to discount stores has been considerably higher outside the capital, as Londoners have instead increased their spending online by 16.5 per cent since November. This marks the first time Londoners have spent more online than on the high street, according to Abound’s data, whereas those outside London have continued to favour visiting the high street this Christmas.

Gerald Chappell, CEO of the personal lender Abound, said on the new analysis: “December is always a big month for spending as people prepare for Christmas festivities and this year there’s been a significant shift in where people are buying day-to-day necessities such as food, cleaning items or toiletries.

“The spike in Londoners turning to online shopping up to December has been steep and sudden. But it coincided with Black Friday, the train strikes, and the cold weather, all of which combined might have led to more people choosing to shop from the comfort of their home.

“Meanwhile outside the capital, it continues to be the case that high streets remain more popular, especially during the holiday season, where they serve as social and leisure hubs as well as retail centres.”

By Mark Adair – Correspondent, Bdaily