24 Jul 2018
Spending on leisure boosted by "record level' of consumer confidence
BY Tom Walker
Spending on leisure activities increased dramatically during the second quarter of the year, driven by "record levels of consumer confidence".
For the period between March and June 2018, consumers reported increasing their leisure spending in nine out of 11 categories compared to the same period in 2017, with short break holidays the only category that saw a fall in spending year-on-year (down 2 per cent).
Spending on culture and entertainment saw the largest increase (5 per cent), while drinking in pubs/bars saw a year-on-year increase of 4 per cent.
Spending on gyms and fitness increased by 2 per cent, as did the money spent on taking part in sport – although spending on attending live sport events remained flat during the period.
The figures come from Deloitte’s Leisure Consumer Q2 2018 report.
“Leisure spending is an important bellwether for the health of the UK economy," said Simon Oaten, partner for hospitality and leisure at Deloitte.
"If consumers are spending on discretionary leisure items, whether that be cappuccinos or holidays, then that is a clear sign confidence in personal disposable income.
"It has been a challenging first half of the year for the sector, with a number of businesses, particularly in the casual dining sector, having to make bold strategic decisions. Nevertheless, the fact that leisure consumers are in good spirits is welcome news.
“Crucially, more habitual categories such as eating out and drinking in pubs and bars have seen a spending boost, a further sign of easing income pressure and improving consumer confidence.”
To view the full report, click here to download it from the Deloitte website.
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