Muted spending boosted by strong pub and restaurant sales

10 January 2019 by
Muted spending boosted by strong pub and restaurant sales

Non-essential consumer spending saw muted growth in December of just 2% but this was boosted by strong growth in pubs and restaurants.

That is according to data from Barclaycard, which sees nearly half of the nation's credit and debit card transactions.

Pubs saw an increase of 12.9% while restaurants were at 9.1% as consumers made the most of the festive period by relaxing and dining out.

In the face of the challenges facing the high street, more than half of Brits (52%) say they want to support their high street. Furthermore, 38% said they are deliberately choosing the high street over online-only retailers.

But despite Brits' good intentions, many remain concerned about their spending power. One in two consumers (49%) expect to cut back in January to cover the cost of Christmas, while 48% say they feel less confident about their personal finances in the coming year than they have done for many years.

Esme Harwood, director at Barclaycard, said: "Growth in consumer spending dropped to its lowest level since 2016 and represents a decline in real terms. Many Brits were more modest in their approach to Christmas spending compared to 2017, cutting back on the essentials to balance the costs of the festive season. Despite a desire to support their local high street, Brits expect to cut back in January and remain cautious amidst ongoing economic uncertainty."

Consumer confidence falters but pubs and restaurants perform well >>

Diners frequently confused by unfamiliar ingredients, research finds >>

Strong pub and restaurant growth in September, says Barclaycard >>

Get The Caterer every week on your smartphone, tablet, or even in good old-fashioned hard copy (or all three!).

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking