BusinessPubs and BarsRestaurants

Pub and restaurant spend sees ‘strong growth’, according to Barclaycard

Consumer spending in the entertainment sector saw its “strongest growth” since June 2017 due to an increase in expenditure at pubs and restaurants.

Spending at pubs increased by 11.5% in September while restaurants enjoyed an increased spend of 9.5%. Entertainment spend – including ticket sales – was recorded as 11.6% for the month. Overall, consumer spending rose 3.9% year-on-year in September, returning to a more modest level after an unusually strong summer.

Data from Barclaycard, which sees nearly half of the nation’s credit and debit card transactions, showed that essential spending remained “relatively robust” at 4.6% growth.

Esme Harwood, director at Barclaycard, said: “We’ve seen spending return to a more modest level as consumers balance their budgets after a longer than usual summer of spend. Rising prices are having an impact on shoppers’ spending priorities, with more of their household budget devoted to everyday essentials such as petrol.

“Looking ahead, a more cautious approach looks set to continue into the Christmas period as consumers remain conscious of the wider economic trends. With this in mind, it’s clear that shoppers will seek out value for money purchases – whether that’s everyday essentials or those discretionary or ‘nice to have’ items.”

Back to top button