Eating out spending falls year-on-year while drinking out rises, says research
Greene King released its Leisure Spend Tracker Report for January, which revealed that average British leisure spending rose 1% compared to last year, despite declining on a month by month basis following the festive period.
Greene King’s Leisure Spend Tracker also reveals that ‘Dry January’ and other New Year’s resolutions had less of an effect on leisure spending this year, as Drinking Out was up 6% compared to January 2015. Spending on Eating Out, meanwhile, fell by 2% over the same period.
This despite monthly decline evident across all categories; with an £8 (16%) fall in spend on Drinking Out, a £12 (14%) fall in Eating Out, and a £16 (18%) fall on Other Leisure.
According to the research, the average British household spent £184 in January on out of home leisure, a 16% decline in spending compared to December but a 1% increase year-on-year. Total leisure spending year-on-year was spread evenly across the country and between households with and without kids.
Fiona Gunn, Greene King group marketing director, said: “The figures suggest that many British households are optimistic ahead of next month’s Budget as the UK economy continues to show signs of improvement. However, while there is an expectation of lower taxes and higher wages, it remains to be seen whether any budget measures will translate into increased spending.”
“This year-on-year increase is particularly promising given the renewed competition presented by retail. January is fast becoming the time for big purchases with the British Retail Consortium reporting a 3% increase in spending year-on-year, with big-ticket items such as furniture and appliances selling well,” the research said.
According to the research, year-on-year spend changed little in London and the South East but spend fell in the Rest of Great Britain by £2 (4%). Differences in Eating Out spend year-on-year emerged between households with and without kids; households with kids spent £1 (2%) less than a year ago, with households without kids cutting back further, spending £2 (3%) less.
Spending on Drinking Out, meanwhile, has decreased substantially month-on-month after the festive period, falling by £8 (16%) in Great Britain; £6 (11%) in London and the South East and £9 (19%) in the Rest of Great Britain. Month-on-month decline in spend on Drinking Out was more pronounced in households with kids, with spend falling by £9 (19%) compared to £7 (15%) in households without kids.
“These month-on-month declines are to be expected following Christmas, and there is positive news when looking at the year-on-year picture. Year-on-year, spend on Drinking Out has increased by £2 (6%), with a £6 (13%) increase in London and the South East and a £1 (3%) increase in the Rest of GB,” the research said.
