Digital payment solutions provider takepayments found that in 2022, UK haulage spending dropped by 4% as fuel spending soared 35%.
Data collected from takepayments’ card and POS system transactions for businesses in the haulage and courier sectors found a year-on-year decline in spending of 4% and 3% respectively in 2022.
The company linked the fall in spending to fuel prices rises and the HGV driver shortage following Brexit and noted that the drop coincides with a 17% decline in new car sales, which were significantly impacted by supply chain issues.
The report said: "It seems haulage businesses are making necessary spending cuts in the wake of increasing challenges."
Jodie Wilkinson, takepayments head of strategic partnerships, commented: "The drops in spending within UK logistics that we recorded coincide with many of the issues being reported by haulage companies themselves.
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She added: "The Chartered Institute of Logistics and Transport (CILT) found that almost 80% of haulage businesses were experiencing a shortage in HGV drivers, and 4 in 5 of the top haulage companies surveyed by Haul Exchange believe that volatile fuel prices are the biggest challenge they'll face in 2023.“
"Our previous research into the staffing and supply crisis in November 2021 found that half of small businesses had experienced supply chain issues that year. Over two-thirds predicted these issues would persist throughout 2022.”
On a brighter note, takepayments Spending Index also found that overall, UK spending increased 21% in 2022, and is projected to increase a further 15% in 2023.