In-home spend drives February sales

Sales on takeaways and fast food rose by 8.7% year-on-year last month as people stayed at home to escape the storms and risk of contracting coronavirus, the Barclaycard Spend Index has revealed.

Whilst consumer spend grew by 2.2%, the increase was propped up almost entirely by in-home spend. Restaurant sales fell 6.4% year-on-year, with more than one in four consumers avoiding the high street and other busy places amid fears of coronavirus.

Although 29% of UK adults spent less in the period, consumer confidence in the economy remains relatively high, with 42% reporting they feel positive, up from 32% last year.

The confidence is primarily driven by Brits believing that progress is being made with Brexit, with one in five putting their optimism down to greater certainty about life outside of the EU.

“Storms, floods and fears about the spread of Coronavirus have kept many Brits away from the high street this month,” said Esme Harwood, Director at Barclaycard. “Despite this, broader consumer spending has held up as people put their money towards enjoying a takeaway and digital subscriptions.”