People are Having Fun in Their Old Clothes

By Gary Cutlack on at

Spending statistics that watch what we spend our meagre casual salaries on appear to show a shift in the very fabric of modern consumerism, with the people moving away from buying clothes and gadgetry nonsense in favour of spending money on "experiences" with friends and family.

That's according to debt-encourager Barclaycard anyway, which says rising prices on the high street are making us spend more on days out, cinema trips and pub lunches. Its numbers showed a 20 per cent year-on-year increase in spending in pubs this April, with 16 per cent more going on restaurant bills and 12.7 extra being spent on going to see films and watch plays.

Spending on clothes was flat, while department store shopping fell by one per cent. This shift toward generating interesting memories was explained by Barclaycard's Paul Lockstone, who said: "This is feeling like a societal shift. People have moved away from physical assets in favour of spending the discretionary amount of money they can afford on time out with their family, or on going out for a meal with friends, or trips to the theatre."

Maybe we're finally bored of being on a phone in front of a TV all the time? [The Times]

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