An extract from an article by the Liverpool BID Company: Where is Liverpool spending its money?
By the Liverpool BID Company, 25th November 2021
More than £536.3m was spent in Liverpool city centre in the last quarter, £87m more than was spent in the previous three months. As sectors like hospitality and leisure reopened, £113m was spent in restaurants, £87m on clothing and high street retail, £19m on accommodation and £5m on leisure and entertainment.
Liverpool BID Company, in partnership with Movement Strategies, reveals how the city centre’s economy has fared over the past quarter as it emerges from the Covid-19 pandemic. It reveals behaviour patterns in spend and which areas of the economy are performing strongly, as well as geographical spread of consumer habits.
In July, August and September, people in Liverpool spent more on Restaurants (59% increase £113m vs £71m in Q2), Clothing (181% increase, £48m vs £17m), Accommodation (100% increase, £19m vs £10m), Retail & High Street (19%, 39m vs 32m) and Leisure and Entertainment (84% increase, £5m vs £3m).
With the reopening of restaurants, supermarkets took a dip, with spend dropping by 36% compared with Q2, £29m from £46m.
Total spend in L1, L2 and L3, covering Liverpool city centre was £536.3m in Q3 including card and cash payments. VISA card transactions totalled £349.1m, and cash and other card payments reached £187.2m. Across the whole city there has been a growth on online expenditure which has sustained after the end of covid restrictions with a jump from 32% overall to around 40% of the total expenditure.