Barclaycard Payments data reveals immediate boost for hospitality sector, thanks to Monday’s lockdown relaxation
- With hospitality venues now allowed to re-open indoors, revenues across the sector are up 43 per cent week-on-week, and up 8.6 per cent compared to 2019
- Pubs and bars have already seen significant growth, with transaction values up 162 per cent week-on-week
- Similar growth has been recorded at restaurants, which have seen a 58 per cent spike in the total amount spent
- Due to pent-up demand, consumers are expected to have to book at least five days in advance to successfully reserve a table this summer
New data from Barclaycard Payments, which processes almost £1 in every £3 spent in the UK, reveals how Monday’s lockdown relaxation has impacted the UK hospitality sector.
Hospitality venues are already feeling the benefits of being able to reopen indoors, with revenues rising across the sector by 43 per cent since Monday, as consumers flock to fill the increased capacity. The value of transactions processed at pubs and bars is up 162 per cent compared to the same period last week, and restaurants are seeing similar growth, with transaction values up 58 per cent.
The picture is even more positive when you focus on face-to-face transactions – in-store revenues are up 171 per cent for pubs and bars, and up 95 per cent for restaurants.
The pent-up demand for eating and drinking indoors, especially given the chilly weather seen over much of the past month, has even caused the hospitality sector to rise above pre-pandemic levels, with the total amount spent up 8.6 per cent compared to the same period in 2019.
Even with the increased capacity, the demand for tables is likely to exceed supply: the recent Barclaycard Payments SME Barometer* revealed that the majority of hospitality and leisure businesses that take bookings expect that customers will need to book at least five days in advance to secure a reservation this summer. In preparation, SMEs have invested an average of £5,551 to become covid-secure for their reopening.
Rob Cameron, CEO of Barclaycard Payments, said: “The re-opening of indoor hospitality venues has brought the welcome sound of ringing tills to restaurants, pubs and bars across the country. I’m delighted to see that transaction values have even risen above 2019 levels, thanks to our pent-up demand for going out to spend time with friends and family.”
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Notes to editors
Unless otherwise stated, the data in this release represents UK spending through Barclaycard’s payments processing systems (e.g. Barclaycard card machines in stores), regardless of card type or issuer, since Monday 17 May 2021, compared to the same period last week.
NB. It is not data taken from spending on Barclaycard’s consumer credit cards. Therefore, please do not refer to Barclaycard credit cards when writing about the source of the data.
* Research for the Barclaycard Payments SME Barometer was conducted online by YouGov on behalf of Barclaycard Payments between 14th April – 4th May 2021. YouGov polled 678 senior members of staff working in UK SMEs, weighted by region to reflect SME distribution in the UK.
Barclaycard Payments will also be using its acquiring data to explore the impact of any upcoming lockdown milestones between now and June 21st; the expected date when all restrictions are removed.
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Oliver Stevenson, Media Relations, +44 (0) 207 116 3837, email@example.com
Barclaycard, part of Barclays Bank PLC, is a leading global payment business that helps consumers, retailers and businesses to make and take payments flexibly, and to access short-term credit. In the UK we process nearly £1 in every £3 spent using credit and debit cards, and in 2020 we processed over £267bn in transactions globally. We also partner with a wide range of organisations across the globe to offer their customers or members payment options and credit.
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