The latest Deltic Night Index reveals that savvy Brits are spending a significant sum on a good night out, but most budget for the occasion and make their cash work hard to get the best bang for their buck.
Respondents spend an average of £70.69 on a night out – this figure comprises every component of the evening, from drinks at home and transport to the venue to food and drinks out and getting home. This isn’t a one-off splurge: 60.8% go on a night out at least once a week and the average Brit is going out more than five times a month.
Although the amount Brits are spending is significant, it is not impulsive. The data shows the vast majority (89.0%) of consumers budget in a number of ways. For example, 58.5% have at least a rough idea of what they plan to spend before heading on a night out, and nearly a quarter (21.3%) refuse to spend more once they’ve hit their limit. 13.1% even plan their spending for each part of the night, from dinner to getting home.
Respondents are willing to spend, on average, almost 15% (14.6%) of their overall budget on entry or game fees (including for a specialist DJ, entertainment, and competitive socialising activities). This willingness to dedicate spend to venue costs signifies the important role quality entertainment and shareable surroundings play in today’s nights out.
Brits use a variety of clever ways to keep track of their spending; more than 3 in 10 (30.4%) take their money out in cash and almost a quarter (23.9%) look for deals and discounts. Cutting down on food and drink costs is also a popular option for a fifth of consumers – 21.9% eat before going out and 19.9% pre-drink for longer before heading out.
Peter Marks, Chief Executive of Deltic, commented, “This quarter’s Deltic Night Index demonstrates that consumers are spending a significant portion of their disposable income on going out. However, these aren’t impulse purchases. People are clearly thinking about where and
when they spend their money, as shown by the percentage of people that budget, and seek out the best value whilst enjoying a fantastic night out. Ultimately, the data shows that people are willing to spend money – but only for the right experience”