Oasis Reunion Boosts UK Retail Spending Despite Economic Concerns

Consumer spending on non-essentials surged in September, driven by Oasis concert ticket sales, while looming budget and energy costs raise financial worries.

• UK retail sales in September saw the strongest growth in six months, with a 2% year-on-year increase, driven by non-essential spending.
• Oasis concert ticket sales contributed to a 36% rise in spending on entertainment, marking the highest growth in this category for the year.
• Despite increased spending on non-essentials, essential spending fell by 1.7%, the largest drop since April 2020, as consumers cut back on groceries.
• Retailers express concerns over the upcoming budget, with potential tax hikes and rising energy costs threatening consumer confidence and spending.
• The British Retail Consortium and businesses are urging the government for relief on business rates to support the retail sector during the crucial holiday season.

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