Retail sales may have been down across the board in June, but Barclays PLC's (LSE:BARC) monthly Consumer Spend report shows that Brits spent large on so-called ‘insperiences’ instead.
Insperiences (aka at-home experiences) such as streaming and other digital content, takeaways, and fast food deliveries, surged 5.3% year on year in June.
On top of avoiding the gloomy weather, 'indoor' spending was encouraged by a strong entertainment roster, including hit TV shows Bridgerton and House of the Dragon, the Euros and Inside Out 2 at the cinemas.
Cinemas enjoyed their busiest day of the year on June 15 thanks to the release of Disney and Pixar's Inside Out 2, noted Barclays.
Karen Johnson, head of retail at Barclays, said: “Once again, our data demonstrates the undeniable impact that unseasonable weather can have on consumer spending.
“The sluggish demand at the start of June even caused some fashion brands to adjust their sales schedules, although I was pleased to see that the situation has since improved with the arrival of sunnier days.
“However, the dreariness didn’t dampen spending across the board, with takeaways, digital content and entertainment all benefitting from people sheltering at home, and hopefully we’ll see sustained interest in The Euros – regardless of England’s fate – and sunnier weather driving people to their local in July.”