Consumers are spending less and looking for ways to save amid rising costs

ALMOST half of Britons expect to spend less over the next three months as retailers already face significant falls in visitor numbers compared with a year ago, figures show.

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Some 45% of consumers say they expect to spend less and 41% are “actively” looking for ways to cut unnecessary spending, according to the latest Movers Index from Virgin Media 02 Business.

There has been an 8% year-on-year drop in retail visits for the first three months of the year, the index, which combines anonymous UK movement data from 02 Motion with survey findings, shows.

Nearly half of consumers (46%) have cancelled at least one subscription, rising to 80% of those aged 18 to 24, the figures show.