The owner of 53 UK clubs and bars revealed a nation of penny-pinching party-goers in its latest report into consumer spending in the night-time economy, with 89% of Brits found to budget in some way, shape or form on a night out.
The most recent Deltic Night Index revealed that more than half (58.5%) of its 2,300 respondents have at least a rough idea of what they plan to spend before heading on a night out, with more than one-in-five (21.3%) night owls tightening their purse strings completely once they’ve hit their limit.
Almost a third (30.4%) of savvy spenders withdraw cash before heading out in order to cap their spending, while close to a quarter (23.9%) actively seek out deals and discounts to push their pennies further.
What’s more, cutting down on food and beverage costs by eating or drinking at home before heading into the on-trade was a resurgent trend in Deltic’s latest findings, with more than one-in-five (21.9%) eating before going out with 19.9% pre-drinking.
On top of this, more than one-in-ten Brits budget for each part of their night out separately, for example setting cash aside for dinner, drinks and a taxi. On average, those surveyed by Deltic spent on average 14.6% of their overall budget on entry or game fees in the last quarter, for example for a specialist DJ, entertainment, or competitive socialising activities.
Flat spend and frequency
As reported by The Morning Advertiser in July, the average spend on a night out rose by 18.8% to £70.46 over the previous year – an increase roughly the price of three pints.
However, Deltic’s latest report revealed only a marginal increase in the average time and money spent on a night out in the quarter since.
Respondents to Deltic’s latest survey spend an average of £70.69 on a night out – including drinks at home, transport to and from a venue to food and drink in the on-trade – while the average time spent on a night out rose to by four minutes to 4hrs 38minutes versus the previous quarter.
In addition, the mean frequency of nights out increased from 1.37 times per week to 1.42 with more than three fifths (60.8%) of Brits claiming to go on a night out at least once a week.
Significant spend on nights out
“This quarter’s Deltic Night Index demonstrates that consumers are spending a significant portion of their disposable income on going out,” Deltic chief executive Peter Marks explained.
“However, these aren’t impulse purchases. People are clearly thinking about where and when they spend their money, as shown by the percentage of people that budget, and seek out the best value whilst enjoying a fantastic night out.
“Ultimately, the data shows that people are willing to spend money – but only for the right experience”.