The number of customers using discount stores in October was up 8% on the same month last year, as consumers seek out better value in order to counteract the rising cost of living
While in those stores, the customers are spending 9.5% more than they did a year ago, allocating more of their budget to lower cost alternatives, even though those goods may also be increasing in price.
Last week the Eurostat Harmonised Index of Consumer Prices flash estimate found prices had risen 9.5% in the year to October, up from 8.6% the previous month. "Savvy consumers are swapping regular stores for discount shopping, and more people are choosing the bus, as compared to last year," a Revolut spokesperson said.
The restaurant spend during the month was 4% higher and in theatres it was 5% up, although cinema spending fell by 18% and the volume of customers dropped by a fifth.
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