Average spend across the eating and drinking out sector has seen significant increases in over the past 12 months, but is still down on 2020 levels, a new report from Cardlytics has found.
The removal of lockdown restrictions saw spend across pubs, bars and restaurants boom between 2021 and 2022, with spend rising by 12,031% in pubs and bars, 748% in casual dining, and 40% in QSR.
However, spend was down 7% in pubs and bars compared to 2020, -15% in casual dining restaurants and down 2% in quick service restaurants.
Average transaction value in casual dining restaurant rose 9%, from £26.37 to £28.73 between 2021 and 2022.
Total spend at coffee shops grew by 63% over the past 12 months, compared a 5% between 2020 and 2022.
Delivery platforms had contrasting fortunes, with an increase in total spend of 85% between 2020 and 2022, but seeing a 5% dip over the last 12 months as people sought to eat out rather than stay at home once restrictions have lifted.
Cardlytics new State of Spend report is based on data from 24 million consumer bank cards and a poll of 2,000 UK consumers.
The report found the number of dining offers activated through banking app reward programmes rose by 784% between 2021 and 2022.
Chris Harris, head of restaurants at Cardlytics who said: “As the cost-of-living continues to rise, luxuries like eating out will take a backseat as consumers look to save. It’s crucial that dining brands build on the success they’ve seen post-pandemic and secure the loyalty of their newly rebuilt customer bases.
“Meal deals, rewards, group offers, and cashback are all ways that brands can convert one-time visitors into repeat customers and firmly establish themselves as a favourite.”
More generally the data revealed that UK consumers expect to spend at least £2000 more on essentials this year as the cost-of-living crisis continues to put pressure on shoppers’ purse strings.
Energy bills and petrol amongst the biggest increases, with total spend at the pump up 56% and energy bills 20% in the last year.
