Entertainment reports strong sales growth

Entertainment reports strong sales growth

For September 2018, entertainment reported its strongest year-on-year growth in consumer sales since June 2017.

Entertainment sales growth for the month stood at 11.6%, helped by restaurants (9.5%), pubs (11.5%) and ticket sales (7.1%).

Overall consumer spending grew 3.9%, a more modest growth compared to the strong summer.

Following reports that consumers will cut back on spending after summer, nearly half (46%) say they are planning to spend less on Christmas this year than in 2017, as we enter the final months of the year.

According to Barclaycard, which released the data, 62% of UK adults lack confidence in the UK economy and 45% are not confident in their ability to spend on nice-to-have items in the run up to the festive period.

“We’ve seen spending return to a more modest level as consumers balance their budgets after a longer than usual summer of spend,” says Barclaycard director Esme Harwood. “Rising prices are having an impact on shoppers’ spending priorities, with more of their household budget devoted to everyday essentials such as petrol.

“Looking ahead, a more cautious approach looks set to continue into the Christmas period as consumers remain conscious of the wider economic trends. With this in mind, it’s clear that shoppers will seek out value for money purchases – whether that’s everyday essentials or those discretionary or ‘nice to have’ items.”