Spending on experiences increases
As summer begins most people might have event, holidays and days out booked and planned and clearly the public have decided experiences are the priority this year.
Barclays data found that most people are planning to forego shopping days and buying new electronics for holidays, concerts and day out experiences.
UK consumers are expected to spend on average, £3322 per adult between June – September this year.
There has been a shift towards memorable experiences to enjoy this year including staycations and entertainment which are set to contribute £134 billion to the local economy.
Those going to Taylor Swifts concerts of her Eras Tour are predicted to be spending £848 each ticketholder.
Barclays survey found that spending on travel and entertainment has increased by 11.6% and 6.5% respectively.
Spending during the Euros
We know spending during Euros summers always increases with Brits taking to pubs and bars to watch the games with friends and family boosting the economy. This year there is an expected £2.75 billion to be spent by football fans on items including beer, pizza and TV’s
For pubs, they will be seeing a lot more love this summer should be happy with this financial boost. The British Beer & pubs association is expecting an extra 20m pints to be sold with an expected total sum of £94m.
