Due to the rising cost of living, 52% of people say they go out to restaurants, 43% go to bars/clubs, and 58% reduce their non-essential shopping on the weekends.
A Cost of Weekend Crisis has been identified, with 1 in 3 Britons (35%) anticipating a decrease in the amount of time they spend going out socially, such as to bars or restaurants, compared to last year, and 3 in 10 anticipating a decrease in the frequency with which they engage in paid local activities, such as going to the movies or concerts.
In each scenario, those who anticipate doing fall short of those who expect to do more (roughly 1 in 5), while about 4 in 10 expect little change. One more in four (26%) anticipate engaging in fewer activities that require travel or time away from the UK, like day trips or music festivals. On the other hand, 32% of people intend to participate in more free local activities this year (like visiting a park or community event); only 8% expect to do less, and 48% will stay the same.
The need to save is the main factor cited by those who say they’ll engage in fewer social activities this year than they did last year (across all activities). The most frequent responses include: the need to save on bills and daily expenses (50%), being unable to afford social activities (43%) and saving for longer-term purchases, such as getting on the housing ladder or going on vacation (32%).
43% of respondents said they are attending fewer bars and clubs this year.
The survey also shows that due to the rising cost of living, at least 50% of Britons are dining out less frequently (52%) and shopping for non-essentials less frequently (58%) than they did a year ago. In addition, the cost of living has led to a 43% decrease in bar and club attendance, as well as a 38% decrease in movie theatre attendance, reflecting the pressure on households to cut back on social outings in order to save money.
The study shows how the cost-of-living crisis has affected how the public participates in weekend social activities. Consumers have less money to spend on weekend socialising, entertainment, and travel as they spend more* on energy, fuel, food, and resources.
Wayne Hemingway MBE, co-founder of the We Invented the Weekend festival said “With current hybrid working models, the weekends are more important than ever to reconnect, but they are clearly under threat with the Cost of Weekend Crisis. Life is different in 2023 – we are saving as much money as possible by staying in to save for the future, but it’s unfortunately at the cost of the weekend. With everything going on the world, socialising with friends and family, going out, having fun, discovering new activities and possible interests becomes even more important.
“Large scale free festivals such as We Invented the Weekend offers consumers a chance to experience all the activities and socialising they have been restricted from at no cost, so we’re hopeful the weekender will let our festival-goers take a step away from everyday life and help alleviate the Cost of Weekend crisis. It is a full circle moment being able to host a large scale free festival which celebrates everything that people love to do at the weekend in the place where the weekend was invented.”
We Invented the Weekend is a bold and imaginative free festival for the UK, from Salford, taking place on Saturday 3rd and Sunday 4th June 2023. The brand-new two-day event will work with partners including the BBC, RHS, The Lowry, Manchester United and many more to open MediaCity and Salford Quays’ spaces and places. The festival will celebrate the joy of free time, taking in sports, music, comedy, theatre, dance, workshops, talks, food, charity, wellness, crafts and more.
From water sports on the canal, community feasts and dance performances, to getting your hands dirty with planting workshops and finding gems at vintage markets, festival-goers will meet new people, try new things, and make memories together.
The post This year, over 50% of us are eating out LESS frequently. first appeared on BusinessMole.
