U.K. residents are spending more on experiences in a post-lockdown surge. According to data from credit card company Barclaycard, spending on entertainment and leisure rose 15.4% last month in the U.K. compared with pre-pandemic levels. Spending was higher across all categories (other than international travel), with spending particularly high in theatres, music festivals, and theme parks, as well as bars and clubs. Retail sales also rose, signaling a turning point for the economy and increased comfort with going out. Our most recent COVID data shows that the majority of young Europeans are comfortable doing some in-person activity, with shopping, going to the movies, and eating at restaurants the highest on the list. Meanwhile, our Future of Experience trend report shows that young consumers are (cautiously) ready to start attending IRL events again. (EuroNews)
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