Published: 12th May 2020

A new report from Legal & General has revealed that the UK is now spending £247m a week on key ‘at home’ sectors such as groceries, alcohol, entertainment and crafts – a rise of 5% on pre-lockdown spending. Following the announcement of a UK-wide lockdown on March 23, UK adults are now spending an average of £104 per week on the top four ‘at home’ categories alone. Those aged 35-54 are the biggest contributors in terms of spend, averaging £170m per week on these four key sectors. Overall, however, despite this shift in where money is being spent, UK households are spending an average of 31% less on the wider economy, equating to a fall in expenditure of £4.1bn per week – or £215bn per year. Many consumers are having to make cutbacks in certain areas, even if they haven’t seen a change in their employment status. The employed are … (To read the full article, subscribe below)