Monthly Sector Insights

We analyse over 180 million transactions and £8 billion in monthly spend to generate a comprehensive view of consumer behaviour. The data encompasses various sectors, including retail, leisure, and travel & transport and enables us to understand where spending is occurring, the types of demographic groups making the spending, and by which channel (online vs offline).

Jump to sector:  Retail  |  Leisure  |  Travel & transport

Sector: Retail

According to our Spend Insights panel data, very similar levels of spending were observed across the UK retail sector in May 2024, compared to the same month in 2023.

The Clothing and Fashion sector returned robust results with sales up over 3% on the same month last year, and a 13% increase in April spend as consumers finally started to believe the summer was on its way.

The Home Furnishings sector remained subdued, with spending down year on year. The cost of consumer credit remains high due to elevated interest rates, making large purchases like furniture less attractive. The slowdown in the housing market (also linked to high interest rates) has also continued to impact this subsector.

Overall, whilst the UK retail sector faces ongoing challenges, the latter half of 2024 offers hope for an upward trajectory in consumer spending, driven by improving economic conditions and evolving consumer preferences.

Sector: Leisure

The Leisure sector in the UK saw very similar levels of spend in May 2024 compared to the same month in 2023.
Despite May featuring two bank holidays and the school half-term holidays, it is generally one of the lower-performing months for the leisure industry, as consumers often choose to save money in anticipation of higher spending during the summer months.

Cinema sector spending was notably poor in May, with consumers seemingly uninspired by the selection of films available where the top-grossing movies included The Fall Guy and Kingdom of the Planet of the Apes.

Pubs and bars also faced challenges, largely due to the unfavourable British weather, with rainfall totals across the month well above average across most of the UK. Looking ahead, there is optimism for an improvement in June’s figures, driven by better weather and the excitement surrounding the Euros, which is expected to draw more consumers to pubs and bars.

One beneficiary of the inclement weather was indoor attractions, which saw improved spending levels compared to the same month in 2022 and 2023.

Sector: Travel & transport

Outbound travel from the UK is on a robust recovery path, with passenger numbers projected to surpass pre-pandemic levels for the first time. Popular destinations, especially budget-friendly ones, are seeing a resurgence in demand as travellers look for cost-effective holiday options.

Experian’s Spend Insight panel data suggests package holiday spend was up over 7% compared to May last year, with airline spend increasing by almost 10%.

Conversely, domestic hotel demand has decreased slightly, with high-income households showing less interest in travelling within the UK compared to the previous year. Rising costs in hotel prices are a significant factor affecting this trend, as is the limited number of good weather days.

Overall, whilst the UK travel sector navigates issues like rising costs and geopolitical uncertainties, the outlook for the rest of 2024 remains positive, buoyed by a strong rebound in both leisure and business travel segments.