A third of Britons prepared themselves for a potential increase in the cost of living post-Brexit by spending less on eating out in 2017, a report has shown.
The British Lifestyles UK 2018 report, which was published by the market intelligence agency Mintel, revealed 33% of Britons saved money last year by spending less on dining in restaurants.
The report surveyed approximately 350,000 consumers regarding their motives behind cutting eating-out expenditure in December 2017, and found that 51% of respondents expected Brexit to impact their living costs.
However the report also revealed consumer spending grew £1.25t, a 3% increase compared with 2016, and the UK foodservice market, which includes eating out and takeaways, increased by £70bn in 2017.
Senior consumer lifestyles analyst at Mintel, Jack Duckett, said: “Consumer confidence has continued to improve over the last five years, although the uncertainty surrounding Britain’s future role outside of the EU could limit any hopes of a greater increase in consumer confidence.
“This is perhaps already being reflected by more modest growth in consumer credit than has previously been seen, and could mean more cautious consumer spending in the near future.”