Arab Press

بالشعب و للشعب
Tuesday, Feb 24, 2026

Cost of living: Platinum Jubilee 'boost' for shops and hospitality despite squeeze on incomes

Cost of living: Platinum Jubilee 'boost' for shops and hospitality despite squeeze on incomes

Two indicators of consumer spending suggest that retailers and hospitality have good cause to toast the Queen's Platinum Jubilee but it could prove to be a short-lived boost to their coffers as rising bills dampen wider demand.
Retailers, along with pubs and restaurants, have enjoyed a "welcome boost" from the four-day weekend celebrating the Queen's Platinum Jubilee, according to two measures of consumer spending.

Early data covering sales and the volumes of people out and about for the public holiday suggested Britons spent heavily on having fun with friends and family following a tough couple of years for stores and hospitality because of COVID restrictions.

This year, the UK's services-dominated economy has slowed as consumer budgets have become squeezed by the intensifying cost of living crisis.

But figures from the British Retail Consortium (BRC) and Sensormatic Solutions showed footfall over the long weekend rose 6.9% compared with the average for May and was 17.1% up for the full week to Sunday.

The BRC said Thursday was the best performing day, with a 45.6% improvement, versus the May average.

Data from Barclaycard Payments - which accounts for almost a third of all card spending in the UK - backed up the increase.

It pointed to a 41.5% rise in spending at restaurants over the Bank holiday weekend compared to the same period last year.

Spending was up 74.2% at pubs, bars and night clubs, while spending on entertainment was up 67.3% and spending on public transport was up 38.8%, the figures showed.

BRC chief executive Helen Dickinson said: "The public took to the streets for the Jubilee celebrations, with retail footfall enjoying significant improvements over the early parts of the long weekend.

"More people hit the shops, with many on the hunt for Jubilee decorations, garden accessories and new outfits."

Supermarkets and the pub sector had been among those speaking of their hopes, in advance of the Platinum Jubilee, of strong demand.

Barclays Payments CEO Rob Cameron said of the performance: "Despite wider concerns around the cost of living, the hospitality sector especially will be pleased by this welcome boost having missed out on two years of unrestricted trading."

However, as official data has shown, the spending spree is likely to be short-lived as households grapple rising inflation - tipped to exceed 10% later this year - driven mostly by unprecedented increases in energy bills across the economy linked to the war in Ukraine.

Data from the BRC for May retail spending, due to be published on Tuesday, is expected to show a fall in May as shoppers tightened their belts amid rising prices across the board.

Fresh Barclaycard data covering the month was also tipped to demonstrate a focus on paying bills for essentials, including energy, while luxuries such as streaming subscriptions continued to decline.

The government announced last month a £15bn package of additional support for households, with a focus on helping the most vulnerable, after the energy regulator estimated that the energy price cap could rise by £830 annually to £2,800 on average in October.
Newsletter

Related Articles

Arab Press
0:00
0:00
Close
GCC Secretary-General Holds Talks with EU Ambassador in Riyadh
Gulf States’ AI Investment Drive Seen as Strategic Bet on Technology and U.S. Security Ties
African Union Commission Chair Meets Saudi Vice Foreign Minister to Deepen Strategic Cooperation
President El-Sisi Holds Strategic Talks with Saudi Crown Prince in Riyadh
Lucid Unveils Up to $12,000 Incentive for Air and Gravity Models in Saudi Arabia
Saudi Arabia Enters Global AI Partnership, Expanding Its Role in International Technology Governance
Saudi Arabia’s Landmark U.S. LNG Agreement Signals Major Strategic Shift
Saudi Arabia Accelerates Global Gaming Push with Billion-Dollar Deals and Expanded PIF Mandate
Saudi Arabia Reports $25.28 Billion Budget Deficit in Fourth Quarter of 2025
Alvarez & Marsal Tax Establishes Dedicated Pillar Two and Transfer Pricing Team in Saudi Arabia
United States Approves Over Fifteen Billion Dollars in Major Arms Sales to Israel and Saudi Arabia
Pre-Iftar Walks Gain Momentum as Ramadan Wellness Trend Spreads
Middle East Jackup Rig Fleet Contracts Further After Saudi Drilling Suspensions
Türkiye and Saudi Arabia Prepare to Sign Five Gigawatt Renewable Energy Deal at COP31
King Mohammed VI Congratulates Saudi Leadership on Founding Day, Reaffirming Strategic Ties
US Envoy Huckabee Clarifies Remarks on Israel After Expansionism Controversy
Saudi Arabia Introduces Limited Exceptions to Regional Headquarters Requirement for Foreign Firms
Saudi Arabia Joins Global Partnership on Artificial Intelligence, Elevating Its Role in Shaping AI Governance
Saudi Arabia and Arab States Mobilise Diplomatically After U.S. Envoy’s Israel Remarks
Cristiano Ronaldo Reaffirms His Commitment to Saudi Arabia Amid Transfer Speculation
Proposed US-Saudi Nuclear Deal Raises Questions Over Uranium Enrichment Provisions
Saudi Arabia Sends 81st Aid Flight to Gaza as Humanitarian Air Bridge Continues
Global Games Show Riyadh 2026 Positioned as Catalyst for Saudi Arabia’s Vision 2030
Saudi Arabia Eases Procurement Rules, Allowing Foreign Firms Greater Access to Government Contracts
Türkiye and Saudi Arabia Seal Two Billion Dollar Solar Energy Agreement
Saudi Crown Prince Reportedly Sends Letter to UAE Leader Over Yemen and Sudan Policies
Saudi Arabia Voices Concerns to UAE Over Sudan Conflict and Yemen Strategy
Saudi Arabia Joins Global Artificial Intelligence Alliance to Strengthen International Collaboration
Shura Island Positioned as Flagship of Saudi Arabia’s Ambitious Red Sea Tourism Drive
Saudi Arabia Rebukes Mike Huckabee Over Remarks in Tucker Carlson Interview
OpenAI CEO Sam Altman praises the rapid progress of Chinese tech companies.
Concerns Mount Over Potential Saudi Uranium Enrichment in Prospective US Nuclear Accord
Trump Directs Government to Release UFO and Alien Information
Trump Signs Global 10% Tariffs on Imports
Investability Emerges as the Defining Test of Saudi Arabia’s Next Market Phase
Saudi Arabia’s Packaging Market Accelerates as Sustainability and E-Commerce Drive Transformation
Saudi Arabia Unveils $32 Billion Push Into Theme Parks and Global Entertainment
Saudi Crude Exports to India Climb Sharply, Closing Gap With Russia
Saudi Arabia’s Halal Cosmetics Market Expands as Faith and Ethical Beauty Drive Growth
ImmunityBio Secures Saudi Partnerships to Launch Flagship Cancer Therapy
United Kingdom Denies U.S. Access to Military Base for Potential Iran Strike
Türkiye and Saudi Arabia Launch Expanded Renewable Energy Partnership
US Supreme Court Voids Trump’s Emergency Tariff Plan, Reshaping Trade Power and Fiscal Risk
Mongolian Mining Family’s HK$247 Million Stanley Home Purchase Highlights Resilient Luxury Market
UK Intensifies Efforts to Secure Saudi Investment in Next-Generation Fighter Jet Programme
Saudi Arabia Tops Middle East Green Building Rankings with Record Growth in 2025
Qatar and Saudi Arabia Each Commit One Billion Dollars to President Trump’s ‘Board of Peace’ Initiative
Ramadan 2026 Prayer Times Set as Fasting Begins in Saudi Arabia and Egypt Announces Dates
Saudi Arabia Launches Ramadan 2026 Hotel Campaign to Boost Religious and Leisure Tourism
Saudi Arabia Seeks Reroute of Greece-Bound Fibre-Optic Cable Through Syria Instead of Israel
×