According to the Barclays Consumer Spend report, Brits each spent £344 on average throughout 2024.
Growth at pubs outperformed restaurants in the past 12 months, which were up 1.7% in comparison.
Elsewhere in the report, it showed overall consumer card spending increase 1.6% year on year in 2024, which was lower than 2023 (4.1% growth).
It also revealed entertainment was high on Brits' agenda as the sector saw a 5.8% uplift with consumers spending £343 on average.
Prioritised spending
Spending on live shows and concerts was up 6.7% and in the latter half of the year, cinemas enjoyed a boost of more than a fifth (22.8%) in November.
Moreover, nearly half (46%) of Brits said they prioritised spending on small, affordable, mood-boosting luxuries such as pastries and cosmetics.
Barclays head of retail Karen Johnson said: “2024 demonstrated Brits’ strong appetite for experiences very clearly, spending selectively elsewhere in order to find room in their budgets for the moments and treats that matter most to them.
“From the Eras Tour to the much anticipated Oasis reunion, blockbusters at the cinema to quality content on their coach, pastries to lipsticks and planning trips abroad, Brits collectively said ‘yes’ to joy in their spending, even against a backdrop of rising bills and living costs.”
Previous data
Johnson added: “This conscious consumerism will continue to shape spending in the new year, with entertainment likely to maintain its momentum as Brits continue to embrace their ‘new essentials’.”
The last report from Barclays, which covered November, found growth in non-essential spending in the month was largely driven by a strong performance in pubs, bars and clubs.
Data from the previous month (October) showed 46% of individuals interested in interacting with the hospitality sector planned to cut down on discretionary spending in order to save money.
Spending at pubs, bars and clubs remained flat in the 10th month of the year, which was the lowest noted growth rate for the sector since September 2022.
