Booze budgets: Brits splash the cash on nights out
The average amount of money spent on UK nights out has surged in the last year, as boozy Brits refuse to let political uncertainty rain on their parade.
Profligate partygoers now spend just over £70 on average during a night out, up more than 25 per cent year-on-year, according to the latest Deltic Night Index.
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Brits are also spending longer in the rave, with the average duration of a night out rising to four hours 38 minutes, and revellers hitting the town five times per month on average.
But while boozy blowouts may occasionally break the bank, the vast majority – 89 per cent – of Brits still budget for an evening of carousing.
Almost 60 per cent of respondents said they have a rough idea of what they plan to spend before they head out, while nearly a quarter refuse to spend more once they have hit their limit.
More than one in 10 even plan their spending for each part of the night, from dinner to transport home.
The most popular budgeting strategy for savvy socialisers is taking money out in cash, while almost a quarter shop around for deals and discounts. The time-honoured tradition of pre-drinking is also favoured by a fifth of Brits.
The research also highlighted the growing popularity of the experience economy, with partygoers willing to fork out almost 15 per cent of their total budget on entry or game fees, such as specialist DJs or competitive socialising activities.
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“This quarter’s index demonstrates that consumers are spending a significant portion of their disposable income on going out,” said Peter Marks, chief executive of bar and club operator Deltic, which commissioned the research.
“However, these aren’t impulse purchases. People are clearly thinking about where and when they spend their money, as shown by the percentage of people that budget, and seek out the best value whilst enjoying a fantastic night out. Ultimately, the data shows that people are willing to spend money – but only for the right experience.”
Main image credit: Getty