Buzz & Beyond: Debit cards

Year-on-year credit and debit card spending in January the highest upsurge since March 2024, says Barclays. Shoppers inspired by health food trends on social media helped lift retail sales in January, easing pressure on high-street stores after a gloomy festive period. Barclays said credit and debit card spending grew 1.9% year on year in January – the highest upsurge since March 2024. The turnaround came after a 10.7% rise in discretionary spending on health and beauty products – the strongest growth rate for the sector in more than three years – which the bank said was because of the increasing sway gained by influencers over what consumers choose to buy.