UK: According to Deloitte’s latest Leisure Consumer report, spending fell seven percentage points in the first three months of 2020 compared to last year, with in-home leisure spending increasing by one percentage point.
Spending intentions for the next three months is expected to increase by six percentage points, suggesting consumers expect a continuation of lockdown and social distancing measures into the second quarter of 2020.
35 per cent of consumers revealed a loss of money due to the cancellation of planned holidays and events. Net spending on long-haul fell eight percentage points and short-haul breaks fell 10 percentage points.
Simon Oaten, partner for hospitality and leisure at Deloitte, said: “As opportunities to spend on out-of-home activities remain restricted, the leisure consumer is in hibernation. However, consumers have found more ways to keep occupied whilst spending more time at home, be it through remote fitness classes or subscribing to more on-demand streaming services.”
“With lockdown and social distancing restrictions yet to lift, consumers anticipate they will spend more of their discretionary income in this way in the coming months.”
Oaten continued: “Leisure is one of the sectors most significantly impacted by the COVID-19 pandemic, posing an unprecedented financial challenge. Historically low consumer confidence means we are unlikely to see the usual uplift in leisure spending that the warmer spring months bring, and current restrictions have highlighted the value leisure consumption brings to our economy and society. The leisure consumer remains a bellwether for the UK economy.”
3,000 adults in the UK participated in Deloitte’s quarterly survey. The full report can be downloaded here.
