Families turn down food for streaming and takeaway
Families turn down food for streaming and takeout: Payments for digital content post fastest growth in five months
Crowded consumers avoided eating out while pumping up spending on takeaways and streaming over the past month, figures show.
Payments for digital content, including TV hits like Succession and Ted Lasso, rose 4.1 percent, according to Barclays – the fastest growth in five months.
Spending at restaurants fell 5.6 percent while takeaways rose 9.2 percent.
Nights in: Payments for digital content, including TV hits like Succession and Ted Lasso (pictured), rose 4.1% — the fastest growth in five months
The data suggests that households are also tightening their belts on essentials.
Food spending rose 7.1 percent, but that’s much lower than food inflation, which is 18.2 percent.
Esme Harwood, a director at Barclays, said this shows consumers are “still doing their best to save money on their weekly grocery shopping”.
Total consumer card spending rose 4 percent, lagging the headline inflation rate of 10.4 percent.
A survey commissioned by Barclays also found that more than half of consumers limit eating out.
Separately, figures from the British Retail Consortium in March showed year-on-year growth of 5.1 percent. Contributing to this were Mother’s Day sales at florists and card shops.