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Passion for leisure - Consumers prepare to rein in
Consumers spent less in Q1 2017 compared to Q4 2016 in most categories except holidays and the gym. Younger consumers aged 18-34 expected holiday spending to remain consistent, while those aged 35-54 expected lower spending and those over 55 expected higher spending. Overall, consumers expected to spend less in Q2 2017 than the same quarter in the prior year across most categories apart from food.
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Passion for leisure - Consumers prepare to rein in
- 1. Short break holidays Long break holidays Passionfor leisure Consumers prepare to rein in In Q1 2017 consumers spent the same or less in most categories, except holidays and the gym, than in Q4 2016. A seasonal trend Tightening of belts after Christmas and cutting back in discretionary areas such as eating/drinking out, with January and February being the traditional months to book holidays. Leisure consumers reported spending more on... Leisure consumers reported spending less on... Long break holidays +4 Q1 2017 +5 +2 Eating out -3 Coffee shops -3 Pubs and bars -2 Culture and entertainment -2 On the topic of holidays ... it’s an age thing 18-34 year-olds Holiday spending is expected to remain fairly consistent with Q1 2016 Holiday spending is expected to be markedly lower than a year ago 35-54 year-olds 55+ year-olds Holiday spending is expected to increase compared to Q1 2016 Long break holidays +1 Short break holidays No change Long break holidays Short break holidays -8 +5 +4 Prioritised spending Consumers expect to spend less in Q2 2017 than what they expected to spend in the same quarter a year ago. Consumers expect to spend less in almost every category Apart from... Food for thought © 2017 Deloitte LLP. All rights reserved. Numerical values represent percentage points which reflect changes in responses from one quarter to the next. -7 Short break holidays The gym In-home leisure -2 Long break holidays -1 Culture and entertainment -3 Coffee shops -3 Short break holidays -2 The gym -4 Pubs and bars +1 Eating out +1 Are consumers refining their spending habits and identifying where savings could be made? Are consumers cutting down on secondary spend items such as the gym and coffee shop? Are consumers reluctant to sacrifice the pub and eating out?