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Barclays report shows 10.4% increase in spend for hospitality & leisure

The latest consumer spending report from Barclays shows a promising 10.4% increase in spend for the hospitality and leisure industry in the UK.

The report analyses consumer spending trends from March 2023 compared to the same period last year, highlighting the impact of increased consumer costs on the sector.
Couple sat at bar ordering drinks

According to the report, while some hospitality sectors such as pubs, bars, and clubs saw an overall increase in spend of 3.2%, the takeaways sector experienced the highest year-on-year increase for March of 9.2%. However, the report wasn’t all positive for the sector, with restaurants experiencing a significant decrease in spending of 5.6%.

The report notes that 33% of consumers are dining out less often to save money, with a further 36% opting to cook at home instead of eating out. Additionally, 21% of respondents said they are actively avoiding social plans that involve eating out to save cash. This trend can be attributed to economic uncertainty, with many consumers feeling cautious about their finances.

The report’s findings highlight the importance of EPoS software solutions in managing hospitality and leisure businesses effectively. With fluctuating consumer spending habits and a need for efficient operations, businesses must have the right tools to stay competitive. The all-in-one ICRTouch solution offers a range of tools to help business owners streamline their operations, manage inventory, and improve customer experiences; all whilst increasing profits and saving time.

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