Spending on restaurants slows in April

By Restaurant

- Last updated on GMT

Spending on restaurants slows in April

Related tags Barclays Spending data Hospitality Finance

Restaurant spending recorded a double digit decline in April, with poor Easter trading following a poor March, new data shows.

Spending in restaurants fell 13.1% year on year, according to card spending data from Barclay’s. Takeaway and fast food spending growth was flat but positive at 3% in April.

Pubs and bars, however, were boosted by Easter and holiday bookings, recording a growth of 3.9%.

Overall consumer card spending slowed to 1.6% in April, below the latest consumer price index inflation rate of 3.8%.

While consumer confidence in household finances rose to its highest level in over three years, a slowdown in food price inflation and cutbacks on food and drink led to a decline for restaurants, according to the figures. Almost a third of Brits (29%) say they are openly discussing plans to cut back on takeaways, and a quarter for restaurants, with (24%) saying they are cutting back on coffee or drink subscriptions.

“Retailers were hopeful that discretionary spending would bounce back by mid-year, buoyed by falling inflation and the prospect of better weather. While improving consumer confidence offers a ray of hope for the retail and hospitality industries as the summer season approaches, many retailers have adjusted their expectations, anticipating no real recovery until the autumn," says Karen Johnson, head of retail at Barclays.

Related topics Trends & Reports

Follow us

Hospitality Guides

View more