Brits set to spend more than £670 per person in just two weeks once restrictions are lifted in April
- Virgin Red predicts a £44 billion* spending spree in April, once lockdown restrictions are eased.
- Brits plan to spend money on outfits, make-up and outdoor furniture to get ready for life after lockdown.
- Brits have saved an average of £372 every month during lockdown as they prepare to spend big once lockdown restrictions are lifted.
New research by Virgin’s new rewards club, Virgin Red, predicts a huge £44 billion spending spree once lockdown restrictions start to ease on Monday 12 April, as Brits take advantage of beer gardens, outdoor restaurants and shops reopening across the country.
Celebrations with friends and family reunions will mean most Brits are likely to spend more than £670 per person over the course of two weeks once the lockdown restrictions have eased, totalling more than £61 every day.
On average, consumers have squirrelled away £372 each month during lockdown as they prepare to spend big. 18-34s are the biggest spenders, with one in two Brits (46%) admitting that they have been actively putting money aside as they prepare to splurge in pubs, bars and restaurants from 12 April.
Swapping hoodies for heels
Loungewear might have topped the lockdown style stakes, but now Brits are trading their hoodies for heels as restrictions start to ease. 31% of consumers are planning to spend more than £53 on a new outfit to celebrate the occasion. Almost a quarter of women have planned to buy new makeup or have already booked a beauty appointment.
Virgin Red members can earn on their everyday spending, earning up to four Virgin Points for every £1 spent at ASOS**, six Virgin Points for every £1 spent at H&M** and up to a whopping eight Virgin Points for every £1 spent at Selfridges & Co**. They can also earn up to four Virgin Points for every £1 spent at Boots** and up to six points for every £1 spent at LOOKFANTASTIC** to make their new beauty purchases stretch even further.
Hosting up a storm
With many restaurants already fully booked, over a quarter (26%) of people are planning to host friends and family in the garden at home over the coming weeks. With that in mind, one in 10 consumers are preparing to spend between £50 to £400 to up their barbecue game and one in 10 Brits are ready to invest more than £70-£400 to add the finishing touches to their homes before guests arrive for the first time in months.
Virgin Red members can earn while they spend on big retailers such as Argos**, where you can earn one Virgin Point for every £1 spent, John Lewis & Partners** where you can earn up to four Virgin Points for every £1 spent and B&Q** which bags you three Virgin Points for every £1 spent.
If it’s a takeaway with friends on the menu, Virgin Red members will earn up to three Virgin Points for every £1 spent at Just Eat**.
Holidaying anywhere but home
On average, Brits are planning to spend £1,370 on holidays and 29% have said that they have already booked a holiday or are planning one. Virgin Red members can make more of their vacations by earning Virgin Points when they book a holiday via Virgin Atlantic, Virgin Atlantic Holidays and Virgin Voyages. And, if a UK-staycation is more your thing, then watch this space for two new travel partners joining Virgin Red at the end of April.
Kelly Best, Virgin Red’s Chief Marketing Officer, commented on the findings: “With lockdown restrictions easing, we know that Virgin Red members will want to spend time reuniting with loved ones and seeing friends in the pub, restaurant, bar or hosting at home. This is where Virgin Red comes in – making everyday living more rewarding by being able to earn Virgin Points on things they would be doing anyway – for instance, splurging on a new outfit or BBQ and then saving points to spend on rewards, treats, experiences or causes that matter to them.”
To become a Virgin Red member, head over to https://www.virgin.com/virgin-red or download the Virgin Red app on your smartphone.