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News Archive - February/March 2014
Pressure on leisure spend continues to ease
CONSUMER confidence is expected to climb in 2014 as lower inflation and an improving labour market combine to help lift real incomes and provide the conditions for sustained growth in the consumer market, according to the latest Deloitte Consumer Tracker, which monitors the patterns of consumer expenditure and the underlying drivers of spending behaviour.
During the first quarter of 2014, consumers plan to spend more on holidays with the net spending expected to rise to -4% (from -8% in Q1 2013). Similarly, consumers anticipate their net spending on short breaks and eating out to rise from -22% to -19%.
Graham Pickett, head of travel, hospitality and leisure at Deloitte, said: “Consumers are being selective, trading down in some categories, in order to be able to trade up in others, such as their holidays and eating out. Despite the emergence of signs of a recovery in the consumer economy, the job of selling to them will continue to be challenging as the ‘considered’ buying behaviours developed during the recession are here to stay.”
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