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Brits choose to spend on rollercoasters and beaches over new clothes or DIY

10th July 2024

  • TSB analyses over 425 million debit card transactions for new How Britain Spends report
  • Brits cut spending on their homes and clothing, but splash out on holidays and entertainment
  • Consumer poll: Over half (57%) of Brits feeling more confident about personal finances over next six months.

TSB’s How Britain Spends Report1 finds that consumers are cutting back on DIY and household good spend (-15.5%), but splashing out on one-off treats, such as holidays and days out – with spend in the travel sector up 9.2%.

The report, a six-monthly analysis of more than 425 million TSB debit card transactions shows customers spent £9.5 billion in the first half of the year. While this is up 1.7% compared to the same period in 2023, it is lower than the latest CPI (Consumer Prices Index) inflation rate of 2%.

Consumer confidence over next six months

The growth in spending coincides with polling2, showing that over half of Brits (57%) are feeling confident3 about their personal finances as they look ahead to the next six months.

A quarter (25%) believe they will face greater financial challenges. UK consumers surveyed are likely to continue to take a cautious approach to spending with over two fifths (42%) not planning to spend more in the second half of the year.

Key highlights from TSB’s How Britain Spends Report:

  • Holidays – There was a 9.2% increase in spending with airline and travel companies.
  • Household – As Brits try to manage their household costs, many are shelving renovations or home improvement projects with overall spend for DIY, electrical and furniture items falling by 15.5%
  • Entertainment - Spending on entertainment including items such as concert tickets, theme parks and going to the cinema and theatre was up 5.1%. Many are clearly up for a rollercoaster year with spending on amusement parks increasing by 20.2%.
  • Pubs – Brits appear to be spending more time in the pub with spending increasing by 7.2%.  The increase appears to be driven by spending over Easter weekend and the May Bank Holidays and not The Euros as spending in pubs fell by 2.5% in June compared to May. 
  • Clothing – Household spend on clothing fell by 4%.
  • Groceries – As food price growth has slowed supermarket spending has risen by 3.4%.

Delphine Emenyonu, Head of Loans and Credit Cards at TSB said:

“While many household budgets are under pressure, consumers are remaining optimistic – with many prioritising spend on treats such as holidays and entertainment.

“Consumers are feeling more confident about their finances, and with a potential interest rate cut later in August, we may see increased spending levels in the second half of the year.”


Notes to editors

1The How Britian Spends Report is a new report from TSB analysing more than 425 million debit card transactions that were carried out between 1st January - 30th June 2024. It is compared to the period 1st January 2023 –30th June 2023.

2The polling was conducted by Censuswide among a sample of 2000 nationally representative consumers in the UK (aged 16+). The data was collected between 19-24 June, 2024. Censuswide abides by and employs members of the Market Research Society and follows the MRS code of conduct which is based on the ESOMAR principles. Censuswide is also a member of the British Polling Council.

3 ‘Somewhat confident’ and ‘Very confident’ answers combined.

  • TSB’s Spend and Save Accounts come with a range of valuable features to help our customers make the most of their money. 
    • Access to offers and discounts across a range of leading retailers and brands in the new My TSB Rewards Portal.
    • On top of the switching and cashback offers, TSB’s Spend & Save and Spend & Save Plus accounts come with instant access savings called Savings Pots. Customers can earn 2.92% interest AER variable.
    • TSB also has its Monthly Saver account. Customers can earn 6.00% Gross/AER, fixed for 12 months.
    • Auto Balancer – allows customers to choose a minimum balance limit on their account. If the balance falls below that level, it will automatically move money from a chosen Savings Pot to top it up.
    • ‘Save the Pennies’ – customers can arrange to have debit card transactions rounded up to the nearest pound, so the ‘change’ goes straight into a Savings Pot.
    • In addition, Spend & Save Plus offers customers:
    • No TSB charges for using their Spend & Save Plus debit card abroad.
    • £100 interest-free Arranged Overdraft for short-term borrowing, subject to application and approval. Overdrafts are repayable on demand.
  • TSB customers can start planning their next holiday on the My TSB Rewards Portal  where a range of discounts and offers are currently available. Examples include up to 6% off holiday bookings with, savings up to 35% on Eurocamp holidays and up to 25% off an overnight stay at Alton Towers Resort.

Spending Tables

Spend Category Total Spend June 2024 % change vs June 2023 Total transactions June 2024 % vs June 2023
Automotive Fuels £ 513,016,977.81 -2.8% 19,480,182 -0.6%
Clothing £373,500,722.60 -4.0% 9,800,675 -1.3%
Entertainment £1,855,113,705.08 +5.1% 121,098,076 +5.3%
Financial Services £.891,661,724,252 +4.1% 10,009,819 +34.5%
Food & Drink (includes supermarkets, bakeries and off-licenses) £2,457,606,977.17 +3.5% 129,599,136 +3.3%
Hotels £133,504,203.39 -6.5% 2,305,599 -2%
Household £453,415,673.77 -15.5% 7,655,344 -30%
Mixed Businesses (Catalogues, department Stores, Discount Stores) £706,989,238.69 +66% 29,881,365 +72%
Other Retail (Bookshops, Chemists, Florists, Giftshops) £854,961,481.32 -19.6% 38,770,672 -16.1%
Other Services (Accounting Services, Childcare, Advertising, Consultancy & PR, Contractors, Funeral Services, Gardening) £1,370,567,194.39 -3.4% 29,708,839 +11.6%
Travel £642,711,919.92 +8.7% 21,097,885 +10.7%
Vehicle Sales & Services £412,246,894.39 +0.2% 7,071,620 +9.0%
Total £11,435,359,241.42   426,479,212  
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The information contained in this press release is intended solely for journalists and should not be used by consumers to make financial decisions. ​