Figures show online retail replacing high street shopping

Online shopping is gradually replacing face-to-face spending, as the growth in consumer spending continues to slow.

The latest figures from Visa’s Irish consumer spending index show a 4% increase in household spending, year-on-year, in January. However, the rate of growth remains below the average of the series, which began in September, 2014.

One of the key trends is the continuing divergence between online shopping and spending on the high street. Face-to-face spending fell by 0.7% year-on-year. Although marginal, that is the fourth decline in a row.