Online consumer spending was down in April, for the first time in four years.

Visa's e-commerce spending index shows that year-on-year spending growth fell by 0.1 per cent, growing just 0.5 per cent overall, as reported by Retail Gazette.

It's thought the dip is due to a fall in consumer confidence, as people start to feel the effects of inflation. While prices rise, salaries are either staying the same or rising at a much slower rate.

In March, the rate of inflation stood at 2.3 per cent, higher than the Bank of England's target of two per cent and the highest level in more than two years.

But there is some good news for the high street. While online spending fell, Easter helped boost sales in the shops by 0.3 per cent, marking the highest rate of growth in food and drink in three years.

While the news that the rise in inflation is causing people to tighten their belts isn't good, here at Punchline we are mildly optimistic to see an increase in spending on the high street. Online deals are good, but when money is tight shoppers may prefer to actually see what they're getting for their money. The online bubble hasn't burst just yet, but maybe things are starting to plateau and the high street has a chance to fight back.

What do you think? Email mark@moosemarketingandpr.co.uk