Consumer Spend on Food and Drink Continues to Rise
A sunny April and increasing consumer confidence saw an increase in consumer spend on eating and drinking out, according to the latest Barclaycard Consumer Spending Report. The amount spent on food and drink in restaurants was up 13%, although the average transaction value dropped by 6.85 year on year as value-conscious customers continue to dine out more but spend less on each meal. Chris Wood, managing director at Barclaycard, said: “Low inflationary pressure is helping consumers to loosen the purse strings on non-essential spending in particular, with many taking the opportunity to make the most of an unseasonably fine British springtime.”
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