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Spending on clothes, cosmetics and gyms jumps in December

Barbers, hairdressers and beauticians saw an increase in consumer spending of around 16% in December
Barbers, hairdressers and beauticians saw an increase in consumer spending of around 16% in December

Revolut customers spent more on clothing, cosmetics, exercise and home improvement last month.

New figures from the digital bank show there was a 5.4% increase in consumer spending at clothing stores and a 6.8% increase at department stores in December when compared to the same month in 2021.

Spending in cosmetics shops was up over 5%, while spending in jewellery shops was up over 8% year-on-year.

The figures show that barbers, hairdressers and beauticians saw an increase in consumer spending of around 16% last month, and a 14% increase in customers.

Meanwhile, spending in gyms was up over 29% in December when compared to the same month the previous year, with a 32% increase in customers.

The figures also reveal that spending at sports goods stores was up by 8.5%.

"With many in lockdown over the past couple of years, welcoming the new year provides a fresh start," a spokesperson for Revolut said.

"Our data suggests that people in Ireland got a head start by giving themselves a makeover in December, as many new customers joined gyms, and coiffed their way into 2023," the spokesperson added.

The cost of living crisis is very much evident in today's figures.

In December, the average Revolut user in Ireland spent almost 7% more on groceries year on year, and over 20% more on utility bills.

Regarding transport - petrol stations, passenger railways, bus lines and taxis all saw increases in consumer spending.

Today's figures also show that spending on clothing rental services jumped over 12%, while spending in tailors was up almost 45% year-on-year, suggesting that consumers are becoming more eco-conscious.