The second release from the Greene King Leisure Spend Tracker was launched today. The GK Leisure Tracker is the first of its kind in Britain and aims to provide greater insights into consumer discretionary spending. Data has been gathered since August 2013 in partnership with YouGov – with additional analysis provided by the Trajectory Partnership.
The April release reports a marginal drop (2%) in overall OOH leisure spending with the average British household spending £200 on OOH Leisure in March 2014. The marginal decline in spending was mitigated by the impact of Valentine’s Day and Half Term on the February figures. As such the overall performance was slightly more resilient than may have been expected – with the total March figures 5% or almost £9 better than those for January 2014.
As Steve Jebson, Commercial Director at Greene King says:
“No recovery is ever smooth and the slight drop in spending from February to March suggests that GB households continue to watch their pennies very closely as the economic recovery takes time to feed down to the consumer”.
Steve went on to argue that; “we are encouraged that underlying spend levels appear to have held up well. We anticipate that GB households will continue to grow their leisure spend as we move towards the summer with an Easter peak in April”.
In fact Eating Out spend grew by a further 2% between February and March, following 11% growth from January to February. These figures suggest that the Eating Out market was worth £290m more in March than in January – while Drinking Out and other Leisure Spending saw a downturn, with the vast improvement in the weather believed to be a significant factor.
In the introduction to the latest report Paul Flatters of Trajectory argues that:
“This month’s results highlight the divergent fortunes of eating out and eating at home as the economy enters recovery mode. These results show eating out is growing steadily. In contrast, when it comes to eating at home, we see the ‘big four’ supermarkets are losing share to the discounters. This illustrates a consumer readiness to spend more on leisure and treats in this early phase of recovery, whilst keeping every day costs under tight control. This is now a clearly discernible trend supported by this data on spending, and by other attitudinal data we have been gathering”.
For further details and a free copy of the April 2014 Greene King Leisure Spend Tracker please visit: