Data: Discretionary spend to plummet £12bn amid cost-of-living crisis

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Spending on non-essential items will plummet £12bn in the UK this year as consumers tighten their purse strings amid a spiralling cost-of-living crisis.

The stark findings, compiled in a report by Retail Economics and digital wallet HyperJar, will pile increasing pressure on retailers already grappling with rising inflation, growing energy costs and supply chain disruption. 

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