Where we spend our money

15th April 2019

The latest figures from the Office for National Statistics show that in 2017, we spent more of our money in shops than we did online, but the growth of online sales is increasing rapidly, going up by 15.9% in comparison with 2016, to £59.8bn.

The sharp rise in online sales means that store closures on the high street are becoming more common. An average of 16 shops closed every day in 2017, with more than 700 of the closures occurring in the fashion trade. On a brighter note, beauty product stores and food outlets showed the highest increase in net store numbers.