The hospitality sector enjoyed a significant uplift as research by London-based fintech SumUp (www.sumup.com), revealed that the Easter Bank Holiday boosted takings for UK hospitality venues.
With news of inflation in UK shops dropping to its lowest level in two years (https://www.theguardian.com/business/2024/apr/02/inflation-in-uk-shops-drops-to-lowest-level-in-two-years), SumUp’s data suggests of the Easter Bank Holiday provided UK businesses a welcome trading boost, with sector-wide takings increasing nationwide by 26% when compared to the weekend previous, and increasing by 52% when looking specifically at pubs, bars and clubs.
Data on SumUp card readers from 29th of March – 1st of April 2024 compared to 22nd of March – 25th of March 2024 (Friday to Monday previous) showed that:
• There was a sector-wide increase in takings of 26%
• Pubs, bars and clubs saw a 52% increase in takings
• Restaurants and cafes saw a 26% increase in takings
• Recreation businesses, such as sports teams, saw a 61% increase in takings, with the return of the Premier League boosting venues
• Outdoor markets saw a 27% increase in takings
• Cinemas and music venues saw a 20% increase in takings
Corin Camenisch, Product Marketing Lead at SumUp comments: “It’s great to see the positive effect bank holidays can have on UK businesses after what has been a difficult period for traders across the nation. The news of retailers lowering prices in order to tackle inflation seems to have come at perfect time for consumers, who took the opportunity to enjoy the rarity of British sunshine and support the highstreet. Recreation business, such as sports teams, were boosted by the return of Premier League football after the international break, and other sporting events such as the annual boat race between Oxford vs Cambridge would have also helped hospitality venues along the race route and across the country.”
