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Greene King leisure tracker: Spending falls harder in London than regions

By MCA

- Last updated on GMT

Greene King leisure tracker: Spending falls harder in London than regions

Related tags: Leisure spend, Family

Consumer confidence remains fragile with 34% of people feeling worse about their financial situation than five years ago, compared to 29% who feel better.

These are among the findings from the latest Greene King Leisure Spend Tracker, which also shows that over the past year average spend has fallen more in London and the south east than in the rest of the country. Average leisure spend per household in February was down 9% year-on-year in the capital and the south east to £205 compared to a 6% fall in the rest of the country to £172.

The research also shows households with children reducing their spend 9% year-on-year to £213 while spending in households without children dropped 8% to £168.

The overall average household spend of £181 was down 7% year on year with a 2% drop on January. This comprised a year-on-year fall of 4% in eating out spend to £75, which was 3% down on January. Drinking out spend fell 7% year-on-year to £40, which was flat on January.

Despite its fall in average spend eating out actually increased its share of leisure spend on both February 2015 and January 2016, taking 41% of total spend. Drinking out’s share was down 1% in both periods to 22% while other leisure spend dropped 1% year-on-year and 2% on the previous month to take 37% of total spend.

The fall in eating out spend was more noticeable in London and the south east, which saw a 7% drop year-on-year, compared to 2% for the rest of the UK. Families with children reduced their eating out spend by 5%, while families without children spent 4% less.

An even more notable regional divide was seen in drinking out spend, which fell 7% in London and the south east but rose 3% in the rest of the UK. Across family types, those without children decreased their drinking out spend by 2% while those with children increased theirs by 4%.

In a poll on consumers’ confidence in their financial situation for this month’s tracker showed younger households feeling far more positive than the older generation.

The poll shows 34% of 18-24s and 38% of 25-34-year-olds feel better than they did five years ago, with just 22% and 26% respectively feeling worse. For 35-44-year-olds, 31% are more positive than five years ago while 35% think things are worse. In the 45-54-year-old bracket the figure is 29% to 38% and for 55+ it’s 23% and 38%.

The figures showed households in London and the south east are as likely to feel positive as theynegative, though in the rest of the country negativity prevails; 35% feel their situation is worse than five years ago, with 28% feeling more positive.

Fiona Gunn, Greene King group marketing director, said: “There is uncertainty on the economic outlook, and this could be trickling through to consumer spending. However, we’re happy to see that young Brits are remaining optimistic and hope that their positivity is carried through into wider sections of the population over the coming months.”

Related topics: Professional Services & Utilities

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