It is thought that the isolation economy has seen a shift in consumer spending equating to £12.9bn annually.
Adults in the UK are spending more on groceries, alcohol, entertainment and hobbies and crafts during the lockdown, according to new research.
Households have been spending less money overall, however, equating to a fall in expenditure of £215bn per year, according to the research by Legal & General and economics consultancy Cebr . Those still employed are spending an average of £107 a week on groceries, alcohol, entertainments and hobbies, an increase of 10% since lockdown began in March.The increase in spending is largely driven by those aged between 35 and 54, who are spending £89.94 per week on groceries. Under-35s spend £56.90 on average while over-55s spend £70.94 per week, the research found.It is thought that the isolation economy has seen a shift in consumer spending equating to £12.
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