Off-licence spending down 8% during the first two weeks of January

BOI card data shows that while off-licence spending saw a decline pub expenditures increased by 4%

Consumers kept the festive spirit alive enjoying themselves in pubs and restaurants during this period (Photo by Pixabay via Pexels)

Bank of Ireland credit and debit card data for the first two weeks of January showed that ‘New Year, New You’ spending in gyms and sports clubs shot upwards compared to last January.

Social spending was up 7% in the first two weeks of last year. Restaurant outlay rose by 9%, fast-food was up 6% and pub spending rose by 4%. It seems that ‘going out was the new staying in’ for many, with off-licence spending declining by 8% during the same period.

Movie-lovers flocked to the cinema, with big-screen spending rising 32% as Irish actors earned international recognition for their performances,

The data shows many consumers are focusing on fitness and health, with spending on gyms and fitness clubs up 17% and spend on sports clubs (e.g. golf, tennis, football) rising by 40% compared to the same period last year.

Nationwide consumer spending rose by 9% overall compared to 2023, with consumers in Galway (+13%) leading the way in the spending stakes, followed by Longford (+11%), Wicklow (+10%), Kildare (+9%), Kerry (+9%), Mayo (+9%) and Westmeath (+9%).

Jilly Clarkin, head of customer journeys & SME markets, Bank of Ireland, said: “New Year, New You has definitely taken off for many, with a significant year on year spike in spending on gyms and sports clubs.

“But spending in the first two weeks of January is actually a mixed picture, as consumers also sought to keep the festive spirit alive and enjoyed themselves in pubs and restaurants. It will be interesting to see if the focus on health and fitness turns out to be a marathon or a sprint, and will those best intentions fall by the wayside as the year progresses.”

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