According to Bolt, nearly two thirds or some 63% of those choosing to scale back on night time spending, state they are deterred by increasingly high expenses, with some 26% citing safety concerns as issues relating to night time activities. With some 15% reporting to be discouraged by fewer open venues.
Protecting the sector
The busiest hours for UK night life have seen a shift, from midnight to 11PM. However despite lessened engagement within the sector as a whole, some 55% of Brits are still choosing to engage within restaurants and 41% are frequenting pubs.
Bolt's trip data also showed, that the amount of people choosing to remain out after the hours of 2am have dropped by almost a third, with the volume of people choosing to stay out past 4am having halved throughout this year.
Operations Manager at Bolt, Chris McMillan said: “Our insights show that people are going out less at night. This is impacting businesses and individuals alike, from bars and clubs, to restaurants and drivers.” He continued: “We all have a joint objective of protecting and rejuvenating this essential sector, which not only adds billions to the economy but provides a livelihood for millions of people.
Bolt information reported, that under a quarter of people are commonly visiting bars with only a tenth choosing to spend time in a nightclub.
Major city decline
McMillan continued: “Ride-hailing plays a key role in supporting the night-time economy, with our data showing that 22% of ride-hailing users rely on the service to visit bars and restaurants, attend events, and explore tourist destinations.”
Despite this recently reported data, Newcastle, Bristol, and Edinburgh still lead the UK within night-time activity, which beats London. However, despite this these cities have all seen a decline over the last year.
When discussing rises costs impacting consumer spending within hospitality, Barclays chief UK economist Jack Meaning also stated, With price pressures continuing to ease and tentative signs that consumer confidence in improving once again, following what appears to have been a post election dip, we think the stage is set for real spend growth, as we move through the final quarter of the year and look ahead to 2025.
