By John Reynolds on 15th January 2020
M&S, WH Smith and Primark most popular retailers with Monzo customers.
It is a bank favoured by millennials, so it may come as a surprise that Monzo cardholders preferred place to shop last year was a retailer seen as a bastion of middle-aged Britishness.
M&S came in ahead of WH Smith with 2.3m Monzo transactions and Primark with two million, according to the data.
The news will be welcomed by M&S, which like all big retailers faces the challenge of attracting younger shoppers amid challenging market conditions. The average age of Monzo account holders is between 31 and 32.
The data also reveals that McDonald's was the most popular food outlet with Monzo customers, with 10.8m swipes.
The Golden Arches came in ahead of Pret A Manger with 7.8m payments and Greggs with 4.2m.
Overall, 67.4 percent of transactions using Monzo cards were made online with the rest made in person in 2019.
The data also reveals the most popular place abroad for Monzo customers was Spain.
Broken down by cities in the United Kingdom. the top places to eat for Monzo customers last year were:
Belfast: 1. McDonald’s, 2. Starbucks, 3. Boojum.
Edinburgh: 1. McDonald’s, 2. Greggs, 3. Pret.
Cardiff: 1. McDonald’s, 2. Greggs, 3. Starbucks.
London: 1. Pret, 2. McDonald’s, 3. Costa.
Manchester: 1. McDonald’s, 2. Greggs, 3. Pret.