Consumers happy to pay more for an item if delivered sustainably

Nationwide’s latest Spending Report – which analyses more than 620 million transactions – shows consumer spending rose modestly in the third quarter, as the nation settled back into a rhythm of travelling to work, hitting the gym and going on holiday.

Spending on transport jumped 45% to nearly £280 million, while the amount spent on leisure and recreation grew by a third (33%), as people returned to gyms and sports centres. With fewer countries on the UK’s red list and more and more flights taking off, spending on airline travel soared 89%, while holiday spend rose 48%.

New consumer research from Nationwide suggests concerns over the rising cost of living could be to blame, as higher household bills forced people to review their outgoings.

Aston spoke to Mark Nalder, head of payments at Nationwide Building Society.

Photo by Colin Watts on Unsplash