Brits made the most of celebrations and benefitted from the longer opening hours.
Data from Barclays shows that during the Coronation bank holiday weekend (6-8 May) transaction volumes increased across hospitality businesses.
Restaurants, pubs and bars benefitted from a significant increase in the total number of sales – compared to the equivalent dates in May last year. In spite of the rainy weather, Brits made the most of the long bank holiday weekend and celebrated the highly-anticipated Coronation of Their Majesties King Charles III and Queen Camilla with friends and family.
Categories which saw a significant uplift in transaction volumes include:
• Pubs and Bars:
o 26.7 per cent, compared to the equivalent dates in May last year*
o 4.42 per cent, compared to the equivalent dates in May last year*
Marc Pettican, Head of Barclaycard Payments, said:
“Consumer spending received a welcome boost across the Hospitality sector during this historic Coronation weekend. Pubs and bars – which benefitted from longer opening hours – received a spike in trade as Brits and tourists headed out to socialise with friends and family and make the most of the festivities.
“Even though restaurant spending fell 7.6 per cent in April as consumers cut back their discretionary spending, data from the 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.”