Brits are expected to spend £1.2bn at festival pop-up stalls this summer, with food and drink taking the largest share.
Research released by Barclaycard into the spending habits of UK festival-goers reveals that the average attendee shells out £67 a day. Unsurprisingly, sustenance tops the list for how Brits are spending their money at festivals, with food and drink accounting for an average daily spend of £46 per person. But gone are the days of just beers and burgers, today’s festivals are serving up more exotic options, including thali (16%), fish curry (14%) and Kimchee (14%). Six per cent of festival-goers have even tested their taste buds by trying insects while on-site.
In the next two to three years, nine in ten (91%) merchants predict an even bigger interest in all things green, with more sustainable and plant-based products expected to be available at festivals.
With the festival industry currently worth over £2.46bn and 36% of Brits planning to attend a festival this summer, live events pose an increasingly lucrative opportunity for new and established brands.
To capitalise on this, the majority of merchants see festivals as fertile ground to trial new products and ideas with 50% testing products that they have later rolled out in store.
Barclaycard predicts a 12% increase in festival revenue over the next five years.