Party-goers spend 2.1% less on nights out

14-Dec-2023 - Last updated on 14-Dec-2023 at 08:40 GMT

Related tags Rekom Finance

For the first time in over a year people are spending less on a night our according to the quarterly survey commissioned by the UK’s largest late-night operator Rekom UK.

The latest Rekom Night Index has revealed total spend on a night out has decreased by 2.1% to £73.19 per person on average, now more in line with expenditures in autumn last year (October 2022: £73.36).

Despite this, pricing is still the top concern for nearly half (44.9%) of consumers when deciding to go on a night out, pointing to the influence the cost-of-living crisis continues to have on socialising patterns.

The survey also showed student nightlife continues to evolve. While students used to go out during the middle of the week, for more than two thirds (67.9%) of students, Saturday has pipped Friday as the most popular day of the week to go out.

Rekom UK chairman Peter Marks said there had been a “clear and fundamental shift” in people’s socialising habits over the past year due to the cost-of-living crisis.

He added: “We have had to think prudently about our business decisions, whether that’s choosing to no longer open early-mid week to focusing our efforts on the bar sector, which offers an extended trading timeframe and appeals to a broader demographic.”

The data also revealed nearly half (45.9%) regularly go on a late night out without consuming alcohol.

This is particularly the case for those aged 25 to 34 (54.3%).

More than half (52%) said they now consume less alcohol on a night out compared to a year ago.

This rose to 59.7% for 25 to 34 year olds and among students this was 48.5%.

The report has also highlighted a potential drop in spontaneity when planning a night out, with customers preferring to book in advance.

Nearly half (47.5%) claim to prioritise planned social events over a spontaneous night out, with just 26.4% opting for unscheduled nights out.

Main reasons cited for planning ahead include to guarantee a seat or area at the venue (22.7%), a birthday celebration (21.8%) and to attend a ticketed event (20%).

Rekom UK operations director Russell Quelch said: “We’re adapting our offering accordingly to meet these changes in consumer demand, and we are prioritising our bars where the space is multi-functional.

“By providing areas for dining, drinks and dancing, we can accommodate a diverse range of preferences and cater to everyone’s needs.”

What’s more, social media platforms are fast becoming the go-to for many customers in how the choose a night out, with a quarter choosing Instagram (25.1%) an TikTok (24%).

For students, TikTok was the most popular platform.