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Thursday 30 August 2012

British restaurants record spending increase during London 2012

The London 2012 Olympic Games has proved to be a particularly healthy period for restaurants across the UK, new research reveals.

Statistics recorded by Lloyds TSB has found that eateries across Britain witnessed the largest rise in spending in the duration of the biggest sporting event in the world.

Spending in restaurants during London 2012 rose by an average of 11.5 per cent, when compared to the same period last year.

"During the Olympics, the restaurant sector saw the strongest rise in spending growth, possibly boosted by those looking to enjoy the party atmosphere generated by the Olympics," Suren Thiru, economist at Lloyds TSB, pointed out.

Spending on health and beauty products also rose, by 6.6 per cent annually, as did purchases of food and drink (six per cent) and electrical devices (4.8 per cent).

Mr Thiru noted: "The rise in spending in the top three categories could all be partly linked back to either celebrating the event or consumers being inspired by what they were watching."

Lloyds TSB's study follows on from the YouGov BrandIndex highlighting that sportswear brand Adidas recorded a substantial increase in Buzz during the Olympic Games.

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Posted by Richard EsquilantADNFCR-1617-ID-801439110-ADNFCR

Source: The Sales Executive News

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