Restaurants see meagre sales uptick over Coronation weekend
Restaurant transactions were up just 4.42% compared to the equivalent dates in May last year.
Pub and bar sales fared noticeably better, with transactions rising 26.7% as consumers made the most of longer opening hours.
“Consumer spending received a welcome boost across the Hospitality sector during this historic Coronation weekend,” says Marc Pettican, head of Barclaycard payments.
“Pubs and bars received a spike in trade as Brits and tourists headed out to socialise with friends and family and make the most of the festivities.”
Recent data from Barclays had made for grim reading for restaurants. Spending across the space fell 7.6% in April, as consumers cut back their discretionary spending.
It follows a 5.6% sales drop in March.
While Pettican doesn’t ignore these findings, he adds that data from the weekend – coupled with the recent increase in restaurant spend over the Easter weekend – shows that Brits are still keen to spend money to celebrate important moments despite the rising cost of living.
“Businesses will be hopeful for another uptick in sales across the Spring Bank Holiday weekend later this month,” he adds.
