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13% Increase in Spend on Eating out

ID-100107995The latest Greene King Leisure Spend Tracker for January 2015 shows that there has been a 13% year on year increase in the Average Household spend on Eating Out, it now stands at £74.66. This is now the 6 consecutive month that year on year spending on Eating Out has increased. January saw the average British household spend £183 on out of home leisure, a decline of 4% (£8) year on year. Month on month it was down 13% (£27), following on from the Christmas. The year on year decline shows that consumer confidence is still fragile despite falls in fuel and utility prices continuing to keep inflation down. Eating out has bucked the overall trend in total leisure spending by showing a 13% increase year on year. Consumers seem to favour spending money on eating out and appear to be cutting back on other spending to fund their favourite leisure pastime. The data would suggest that establishments that are food-led, such as restaurants, have preformed better than those where drink makes up s significant part of the sales mix. Households outside of London and the South East saw a greater increase in spend. 17%,  compared with just 6% in London and the South East. Both household with children and those with out saw spending on Eating Out increase year on year, showing the broad appeal of eating out. The report also looked at how adults thought they would be spending the leisure budgets in 2015. Respondents came from all age groups and types of households, with the majority saying that they expected to maintain the level of Eating Out Spend at the same level as 2014. However, 18-24 years were revealed as the most optimistic with 30% indicating that they planned to increase spending on eating out, and a similar figure on drinking outside of the home. Greene King’s Marketing Director, Fiona Gunn, said “Britain’s youth have had a tough time during the credit crunch but this month’s leisure tracker suggests the worst is now behind them. Our survey found that 18-24 year olds are willing to spend more on eating out , drinking out and big ticket items this year than in 2014.” Fiona continued: “Eating Out spend has continued to experience strong growth and the 13% rise this month could be, in part, a result of a fall in petrol prices and inflation reaching record lows, giving Brits more to spend on their favourite leisure activity.”

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