News / Bristol City Centre

People spending less on Bristol city centre businesses

By Rachel Sutherland  Tuesday Nov 22, 2022

The cost of living crisis, inflation, and a rise in the cost of goods are having an impact on how people are spending their money in the city centre.

Businesses based in the heart of Bristol have experienced a decline in sales and revenue in the third quarter (3Q) of 2022, between July, August and September.

Sales are down across a number of sectors in comparison to spends from early this year in the second quarter (Q2), between April, May and June of 2022.

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The sector affected the most within that time was supermarkets, with a decrease of 43% in sales. That’s a drop in £7m from £17m in the 2Q to £10m in the 3Q.

Businesses based in the heart of Bristol have experienced a decline in sales and revenue in the third quarter of 2022 – photo: Julian Preece

Sales on clothing dropped by 23%, people spent 10% less in restaurants, pubs and clubs and spends dropped by 9% for general retail and high street.

This is a total reduction of £14.5 million in comparison to Q2 in Bristol, which reflects the current economic landscape within the UK.

The only sector which saw an increase in spends was hotels and accommodation, which was up by 2% compared to in the 2Q.

International visitors have been giving the city’s economy a boost, with increased spends from Saudi Arabia and The United Arab Emirates.

Spend from the USA and Republic of Ireland has also remained strong in the city centre.

This data has been revealed by Bristol City Centre BID (business improvement district) and Redcliffe and Temple BID.

The two BIDs have been delivering projects and services to encourage spend within the city, including a new cost saving service for businesses in the BID areas. This offers specialist advice and support to identify savings on utility bills.

Festive projects like the Christmas lights and a new Love Bristol Night Out Gift Card are set to further attract people into the city across Christmas and into the New Year.

Vicky Lee, head of Bristol City Centre BID said: “Our role as a BID is to support businesses through the challenging economic landscape which we know is changing the spending habits of people in the city.

“Our programme of projects and events, both current and in the future, is focused on attracting visitors into Bristol city centre and encouraging them to shop local across the festive period and into the New Year.

“We are focused on driving footfall into businesses during the start of next year with events planned across January, February and March including the return of Bristol Light Festival in early February 2023 which with a longer duration will be encouraging people from outside of the city to visit.”

Photos: Julian Preece

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