Pubs and restaurants set for £6.5 million in Christmas Day spending
New data from the UK’s leading payments company Worldpay, has revealed a growing trend for eating out on Christmas Day. Analysis of consumer spending habits over the past two years has found restaurant spending on 25th December growing by 5.7% in 2017, with 10% of Brits planning to dine out on Christmas Day.
According to research of 2,500 consumers, removing the hassle of cooking and washing up are the key drivers behind this trend. Meanwhile a third of consumers (32%) say that freeing up more time to spend with their family is the primary reason.
A fifth of those surveyed claim that eating out at a restaurant actually saves money on cooking at home. Worldpay’s research found that people eating at home are expecting to spend on average £66.53 on groceries, while those planning to eat out are looking to spend just £64.14. With the cost of Christmas Dinner this year rising 6% compared to 2017, the findings suggest that staying at home may no longer be the cheapest option for thrifty families.
Worldpay’s data also found that the pre-turkey tipple is a growing tradition across the UK, with pub’s seeing a 16% increase in transactions on Christmas Day in 2017. Last year, pubs and restaurants raked in £6.5 million, despite shorter licensing hours, with spending peaking at 13:25 and punters spending £18.43 per transaction.
Steve Newton, Executive Vice President of UK and Europe at Worldpay added: “The festive season is a hugely important time for the hospitality trade – from the hordes of corporate Christmas parties in early December through to the traditional pre-lunch pint on Christmas Day – and consumers have high expectations of what it takes to make the season extra special. But savvy businesses must plan ahead to deliver the very best experience at peak times. Consider offering online booking capabilities and the option to pre-order food and drinks to streamline service on the day, so that guests can focus on socialising. Business owners should not forget – a customer is for life – not just for Christmas.”