Outlook for British retailers 'remains challenging'

Total spending on Barclays payment cards rose by 9.7% last month from January 2022, helped by a 66% jump in holiday bookings and a 21% rise in entertainment spending.  

Spending by shoppers at British retailers grew less quickly in January, but the overall picture looked a bit brighter as consumers treated themselves to cinema trips and booked holidays, surveys show. 

The British Retail Consortium said spending in store chains rose by 4.2% in annual terms in January, weaker than December's 6.9% rise and lagging behind inflation, which signified a fall in sales volumes.