Sales flatline before Christmas 'online frenzy'
Consumer spend in the UK is flat, according to data from Visa’s Weekly Christmas Spending Tracker.
Spending is down 3.7% in the week commencing 19 November compared to last year, according to the data. Spending across four week averages – an indicator of underlying trends – also saw a slight decline of 0.8%. Spending picked up slightly in comparison to the previous week, registering a 1.2% increase.
The findings come as the UK prepares for 'Mega Monday' on 3 December - when Visa Europe is predicting that £320 million will be spent on Visa cards online.