It’s no secret that a night out on the town can burn a deep hole in your pocket.
A new study has even revealed how many pounds we part with every time we head out – apparently, the average Brit has spent £70.69 when going out in the three months leading up to September.
People tend to splash more cash during the summer months, but this is the highest the figure has been since October 2016, when the survey first launched.
In fact, the amount we’re willing to spend on a night out has gone up 25% compared to last year.
The study, released by nightclub franchise, The Deltic Group, found that most of the money spent went towards cinema, restaurant, pub and nightclub visits.
As for what we’re buying, it’s not just nightclub entry fees or food and drink at venues, but also alcohol at home (the traditional pre-drinks) and transport.
Unsurprisingly, alcohol is a big part of the overall spend, with the average party-goer buying £19.34 worth of booze when out drinking – up 10% since last year – and £16.03 on food – up 17.7%.
Brits are also going out more often; in the three months leading to the end of this month, 61% of Brits went out, a figure which has increased 56.2% since 2018.
However, while they are keen to have a good time, the study participants pointed out that they do budget for the experience – and nearly a quarter will stop once the limit has been reached.
Others (25%) will hunt out discounts before heading out, or eat/drink beforehand (once again, the traditional pre-drinks).
Despite these figures, it appears that the UK’s night-time economy has seen better days – nearly 12,000 pubs have closed during the period of 2010 and 2018, according to Altus Group.
‘This quarter’s Deltic Night Index demonstrates that consumers are spending a significant portion of their disposable income on going out,’ said Peter Marks, chief executive of The Deltic Group.
‘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.’
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