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Deloitte research offers positive signs for leisure businesses

Feb 16
 
Tags: Deloitte
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Deloitte research offers positive signs for leisure...

Businesses that are reliant on leisure spending by UK customers have cause for optimism, based on trends from the fourth quarter of 2017 recorded by Deloitte.

The firm released a report showing that consumers were "less constrained" in their leisure spending during the final three months of last year, compared to the same period of 2016.

Findings from a survey of more than 3,000 UK adults showed year-on-year increases in spending in seven out of 11 leisure categories. Specifically, people showed more willingness to spend on short break holidays, going to the gym, drinking in pubs and bars, and attending live sporting events.

Only three sub-sectors recorded a year-on-year decline, including drinking in coffee shops and eating out. Deloitte said this could have been a result of inflationary pressures.

The research also indicated encouraging trends for the future, with respondents broadly optimistic about their spending intentions for the first quarter of 2018. There were positive changes in six of the 11 sub-categories, compared to the previous quarter.

Big-ticket leisure activities such as holidays are expected to see a particularly significant increase in spending.

Discussing the research findings, Simon Oaten, partner for hospitality and leisure at Deloitte, said they paint "a positive picture" for the leisure sector, which ended 2017 "on a high".

He added: "The increase in leisure spending comes against a backdrop of various income pressures that have been squeezing consumer pockets in the last year, including rising inflation and slow wage growth.

"In the year ahead, consumers expect their spending on many habitual leisure activities, such as drinking in pubs and eating out, to remain unchanged."

Specific trends within the figures suggested that people between the ages of 18 and 34 are the most optimistic about leisure spending over the next three months.

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Image: iStock/Highwaystarz-Photography

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