The Coronation weekend saw a significant boost in pub and bar transactions, with a 26.7% increase compared to the same period last year, as Britons made the most of the celebrations and enjoyed the extended opening hours. Despite the rainy weather, the nation came together to commemorate the historic Coronation of Their Majesties King Charles III and Queen Camilla.
According to data from Barclays, which processes almost half of the UK’s credit and debit card transactions, hospitality businesses experienced a surge in sales volumes during the Coronation bank holiday weekend (6-8 May). Restaurants, pubs, and bars all reaped the benefits of the increased spending, as people gathered with friends and family to mark the occasion.
The most notable rise in transaction volumes was observed in the following categories:
- Pubs and Bars: 26.7% increase compared to the equivalent dates in May last year*
- Restaurants: 4.42% increase compared to the equivalent dates in May last year*
Marc Pettican, Head of Barclaycard Payments, commented on the findings: “Consumer spending received a welcome boost across the Hospitality sector during this historic Coronation weekend. Pubs and bars – which benefitted from longer opening hours – received a spike in trade as Brits and tourists headed out to socialise with friends and family and make the most of the festivities.”
Although restaurant spending experienced a 7.6% decline in April as consumers curtailed their discretionary spending, the data from the Coronation weekend demonstrates that Brits are still willing to spend money to celebrate significant events, despite the rising cost of living. With the Spring Bank Holiday weekend fast approaching, businesses are hoping for another upswing in sales.
