The release of The Banshees of Inisherin – the film which Brendan Gleeson and Colin Farrell begin – has drawn people to cinemas last month, according to Bank of Ireland spending figures.
Martin McDonagh’s acclaimed film is credited with boosting credit and debit card spending in theaters by 44 percent in October.
And although the cost of living crisis is taking a heavy toll on household budgets, the latest transaction data from the Bank of Ireland shows card spending rose 2 per cent last month compared to September, with pub spending up 12 per cent.
Despite higher energy, fuel and food bills, people have also been splashing out on takeaways, with card spending on everything from pizza to Chinese food up 9 percent in October compared to September.
Young people are behind rising spending, even if they are often the hardest hit by economic challenges. Older consumers, while generally better off, are more cautious about their spending.
Even restaurants — still fearful of the impact tighter wallets will have on them — saw a 2 per cent increase in card spending over the last month.
However, restaurants saw card spending plummet 22 percent in September, so the small spike in October is cold comfort as they face a potentially harsh winter. Card spending on groceries rose 8 percent in October but is almost certainly having an inflationary impact.
Clothing spending was 14 percent higher in October, while pharmacies were up 8 percent.
Both retail and social sectors performing strongly in October is a positive sign and total spending has held up well after falling in September and year-on-year,” said Jilly Clarkin, Head of Customer Travel and SME Markets at the Bank of Ireland.
She added that the 26-35 age group spent 7 percent more on their cards in October. Spending by 36 to 45 year olds increased by 5 percent. But those aged 56 to 65 cut their spending by 2 percent, while those aged 65 and over stayed the same.
“We are now entering a busy time of year for retail and social spending so it will be interesting to see if the next few months deliver more spending momentum,” Ms Clarkin said.
https://www.independent.ie/business/the-banshees-of-inisherin-helps-to-drive-spending-surge-at-cinemas-in-october-42147437.html The Banshees of Inisherin is helping to fuel October’s theatrical spending surge