Revolut: Consumers splashed out on aquariums and antiques in February

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Tech Reporter

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According to data from UK fintech Revolut, UK consumer spending increased in the month of February, with a notable uptick in home renovation purchases, takeaways, and indoor entertainment.

New data from Revolut tracked 93m card payments last month, revealing how consumer habits shifted after the January spending lull.

Home renovations

Spending on home supply stores increased by 47 per cent compared to the previous month, as households used their early-year paychecks to splurge on renovations.

Interest in second hand and vintage decor also jumped, with online antique purchasing up 27 per cent, largely taking over the six per cent rise in in-store spending.

According to previous data from the fintech giant, a recent house price surge has led UK homeowners to renovate rather than relocate due to high property costs and high tax rates.

As house prices hit record highs, customers have pivoted towards making existing homes more appealing and functional rather than facing the challenges of purchasing a new property.

Indoor entertainment spending

Spending on attractions like aquariums rose by 31 per cent with the February half term break, as customers shifted towards cultural experiences.

Meanwhile, theatre ticket sales were up 24 per cent.

Museums also saw a nine per cent increase in visitors, while purchases in their gift shops also rose by an additional 12 per cent.

Takeaways continue to grow

Spending on takeaway online meal deliveries rose 29 per cent year on year, showing continued demand for convenience dining.

This followed a longer term trend of growing takeaway consumption across the UK, largely driven by expanded delivery services and consumer preference.

This follows Just Eat takeaway’s recent launch of its first drone-operated food deliveries, which could change the UK takeaway sector.

The service was created to improve efficiency and reduce delivery times during peak hours.

It is expected to expand across the food delivery giant’s international markets.

Spring shift

Revolut has anticipated continued strength in customer spending coming into Spring.

Home improvement spending is projected to continue to rise as spring cleaning and renovation projects pick up.

Meanwhile, the report suggested an expected increase in travel spend ahead of the Easter break and May bank holidays.