Visa has released reports showing that consumer spending dropped significantly in April of this year following a month of particularly bad weather. Shoppers chose to stay indoors rather than brave the inclement conditions but even online shopping couldn’t save retailers’ woes as this too saw a drop, albeit a considerably smaller one.
However, while figures dropped the most they have in 11 months, Visa did cite a number of possible reasons for this inflated spending decrease.
The weather is the most obvious factor that kept people away from the high street. The UK faced what was described as dismal weather throughout the month and, furthermore, March had seen inflated figures led by the panic buying of petrol.
This means that month on month comparisons appear worse than they actually were. Similarly, when comparing April of this year to April of last year, has been no Royal Wedding to lift the mood of the nation either.
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