Consumers head out more but spend less, report says
Post by Karl Phillips
on 13 February 2012 in Travel & Leisure
People in the UK are fed up of staying in to save cash, according to a report by a leading advisory firm.
The Zolfo Cooper Leisure Wallet Report, which was published this morning, says 'austerity fatigue' is leading consumers to make more frequent trips out to venues such as pubs and restaurants. This is despite a drop in the average amount spent during each visit, brought about by families' incomes being squeezed across all parts of Britain.
It is the first time an increase in visits has been seen since the company's first such report in the summer of 2010. Zolfo Cooper said it pointed to the fact that after two years of belt tightening, people were beginning to venture out more, despite still keeping a very close eye on their finances.
Paul Hemming, who heads up Zolfo Cooper's corporate advisory services group, said in the report's executive summary: "The good news is that the frequency of visits is up for restaurants, pubs and nightclubs. This is the first time we have witnessed any increase in activity frequency – and it is right across the board.
"This suggests consumers have now recognised that they can still afford to go out regularly and enjoy themselves, provided they spend a bit less on each night out."