- £32bn will be spent on holidays
- £18bn will be showered on weddings and stag/hen weekends
- Festival and sport lovers will spend £7bn heading out to see their favourite bands and teams
LONDON, June 12, 2019 /PRNewswire/ -- New research released today, by online market place eBay, has revealed that holidays, weddings, and festivals is where Brits will be splashing the cash this summer - to the tune of £80bn.
Unsurprisingly the bulk of that will be put towards a summer holiday, especially as it doesn't look like we'll be experiencing the scorching heatwave of 2018.
Weddings are proving to be almost as costly, totting up to a total of £11bn, which is no surprise with nearly one in 12 (8%) 25-44 year olds spending £1200 attending weddings each summer. For the select few invited to the stag and hen weekends another £7bn will be parted with across the UK, where one in six men (15%) predict to spend anything from £200 to £2000 on stags this summer.
The summer of sport and festivals isn't coming in cheap either. With last weekend's all England Champions League Final, two World Cups and the Ashes coming up, on top of the usual festivals and sporting events, Brits will spend an average of £730 each to attend.
And it not always possible to find the additional cash to have all the fun you want. Unfortunately, according to the survey of 2,000 Brits, over half of us (52%) have said we'll have to forgo quality time with friends and loved ones in order to pay for it, including skipping dinner with a friend (21%), and missing out on birthday celebrations (17%).
Nikin Patel, Director of Consumer Selling at eBay UK, said: "Summers are usually a great time to be out socialising but it doesn't always come cheap, especially in this current financial climate. It's a shame to see that half of Brits will have to cut back on their summer fun due to the high expense.
"However, all is not lost. Luckily, we can simply look around our homes to things we no longer use or need to earn a little extra cash. You can trade in anything from an old tech to vintage clothing, to pay for a summer you'll love and remember for years to come."
Top items to sell on eBay, to help you get set for summer spending:
- £150 can be made from selling an old iPhone, which could be swapped for a two-day festival ticket
- Dusty DVD players having the potential to fetch £32 which could pay for a train ticket out of town
- A pair of nearly new designer shoes could make £30, paying for a round of drinks at a hen do
Head to eBay to set up your account or stock up for your summer festivals essential https://www.ebay.co.uk/rpp/festivals.
eBay was the first online marketplace. Today, it's a household name. A regular feature in lists of best loved brands, it connects millions of buyers and sellers, helping customers to find the item they're looking for from its 1.1 billion listings. With 179 million buyers in 190 markets, trade is fast. The UK website sells a car part every second, and last year the online marketplace saw must-have items like LEGO Harry Potter flying off the virtual shelves every ten seconds.
This incredible interest directly benefits the small businesses who trade on eBay, giving them access to an audience once unthinkable for a small shop on the high street. Throughout its history, eBay has helped many thousands of small businesses to succeed. Small British firms regularly rank in the top five grossing sellers on eBay.co.uk's biggest trading days like Black Friday, and over one thousand British sellers who started with a shop on eBay are now running million pound businesses, providing jobs to people in their communities.
By partnering with sellers in this way, eBay.co.uk has helped hundreds of thousands of British entrepreneurs over its 23-year history. As a hub of retail in the UK, the marketplace also continues to welcome top brands to the site – including Currys, Halfords, GoPro, Canon, BooHoo and more.
eBay also makes it easy for customers to give to charitable organisations. Using eBay for Charity, sellers can donate a portion of their sales and buyers can shop while supporting their favourite causes – adding to the funds that eBay.co.uk has raised for UK charities to date.
Did you know?
eBay has 179 million active buyers around the world.
In the UK, eBay serves 24m Brits a month.