Lipsticks, concert events and TV subscriptions: What Britons spent extra on in 2024
Higher spending on shows, concerts and the cinema are expected to continue rising in 2025, as many consumers prioritise experiences over essentials like groceries.
The amount of money Britons spent on entertainment and memorable experiences rose nearly 6 per cent in the last year, data shows.
Amid political and economic turmoil, spending on live shows and concerts like the Taylor Swift extravaganza increased by 6.7 per cent, according to Barclays’ figures.
On average, Britons spent around £343 each during the year on things like shows, concerts and the cinema.
Spending on TV subscriptions and online content jumped over 13 per cent in the last year, with hits like Baby Reindeer and Bridgerton drawing more people to their sofas.
The amount of money splashed out on TV subscriptions in 2024 was nearly twice the 7.3 per cent increase seen in 2023.
Worth it: Britons spent more on TV subscriptions, concerts and cosmetics in 2024
Nearly 60 per cent of Britons said they were concerned about higher digital TV subscription costs.
However, only 27 per cent of people looking to reduce their discretionary spending said they would reduce their spending on TV subscriptions, Barclays said.
On top of entertainment and TV, a large proportion of Britons continue to prioritise spending on holidays and travel.
Consumer spending across the travel sector jumped by 6.9 per cent this year, with nearly 30 per cent of Britons having already booked a getaway for 2025.
On average, Britons each spent £1,117 on travel in 2024. Airlines and travel agents both saw bookings rise sharply, according to Barclays.
Out of over 2,000 people surveyed, the majority ranked holidays as their number one discretionary spending priority.
One on five Britons said they adopted a ‘treat yourself’ approach to travelling. Nearly 40 per cent said they tended to spend more than they planned to when on holiday.
While the amount of cash spent on holidays increased this year, the rise was much lower than the 15.2 per cent increase seen in 2023, just after the pandemic.
While spending big on holidays and concerts took priority for many, Barclays noted that an increasing number of people also adopted a smaller-scale ‘treat yourself’ mantra in 2024.
Nearly half of Britons said they prioritised spending on small, affordable ‘mood-bosting’ luxuries like cosmetics and pastries.
Barclays said: ‘Demand for little luxuries boosted pharmacy, health and beauty retailers, up 7.1 per cent, further demonstrating the impact of the “lipstick effect”, where shoppers prioritise cosmetic purchases. Beauty spenders splashed out £291 each on average in 2024.’
Baked goods were another popular pick-me-up, with over 40 per cent of people surveyed spending more on treats like cookies and pistachio desserts.
People also spent more in pubs, bars and clubs in 2024 than the previous year.
Average spending on trips to the pub increased by 3.6 per cent year-on-year. On average, Britons spent £344 on trips to the pub throughout the year.
Barclays said: ‘Growth at pubs outperformed restaurants in 2024, which were up just 1.7 per cent in comparison, suggesting Britons opted for more casual, relaxed socialising in the last year’.
In total, spending on non-essentials grew by 1.9 per cent in 2024, when compared to the previous year.
Spending on home improvements and DIY fell over 7 per cent year-on-year, as experiences trounced spending cash on sprucing up property.
Karen Johnson, head of retail at Barclays, said: ‘2024 demonstrated Brits’ strong appetite for experiences very clearly, spending selectively elsewhere in order to find room in their budgets for the moments and treats that matter the most to them.
‘From The Eras Tour to the much-anticipated Oasis reunion; blockbusters at the cinema to quality content on the couch; pastries to lipsticks and planning trips abroad, Brits collectively said “yes” to joy in their spending, even against a backdrop of rising bills and living costs.’
She added: ‘This conscious consumerism will continue to shape spending in the new year, with entertainment likely to maintain its momentum, as Brits continue to embrace their “new essentials”.
Spending on essentials slows
Spending on essentials like food grew by just 0.9 per cent in 2024, down from 3.9 per cent a year ago. The amount of money spent on fuel fell, while slowing across supermarkets.
Growth in supermarket spending slowed to 1.3 per cent this year, down from 6.5 per cent in 2023. Many shoppers remain cost-conscious and are making use of loyalty schemes and discounts.
Barclays found that over a third of shoppers said they had noticed food price rising at a slower pace in recent months.
Spending in discount stores on the high-street fell over 6 per cent year-on-year, the findings added.
The total amount if money spent on cards across all sectors increased by 1.6 per cent year-on-year, markedly lower than the 4.1 per cent growth seen in 2023, Barclays said.
Recent official figures showed inflation increased by 2.6 per cent in the year to November, up from 2.3 per cent in the 12 months to October. Higher prices for clothes and fuel played a sizeable part in pushing inflation up in recent weeks.
The November figure marked the highest rate since March 2024 and meant inflation has been above the Bank of England’s 2 per cent target for two months in a row.
On 23 December, revised data from the Office for National Statistics showed the economy saw zero growth between July and September.
