ONS reveals cautious start to spending in 2025

Data released this week from the Office of National Statistics (ONS) as part of its ongoing research into the UK’s spending habits has revealed spending and credit card use decreased slightly as February began.

Research produced in association with credit card company Revolut shows that in the week to 9 February 2025, both total Revolut debit card spending and overall retail footfall decreased by 6% and 4%. However, when compared with the same week of last year, total card spending increased by 6%, while overall retail footfall decreased by 1%.

Elesewhere, it seems the notion of a nation really feeling the pinch persists. In the ONS’ Opinions and Lifestyle Survey (OPN), most people reported that their cost of living had increased (56%) or stayed the same (42%) during January 2025, compared with December 2024, with only 2% reporting a decrease.

It was that old favourite, the cost of living, that was the cause of caution for most. Respondents reported changes in behaviour because of increases in this, with around 61% saying they are spending less on non-essentials, 45% shopping around more and 39% spending less on food shopping and essentials – so say initial findings for January 2025 from the survey, due to be published in full on 21 February.

When it comes to business themselves, the ONS’s initial findings from its latest Business Insights and Conditions Survey show that 16% of businesses reported turnover had increased for January 2025 when compared with the previous month – a slight increase of 2% on the previous year.

For more information visit the ONDs’ dedicated page here.