Close Menu
  • News
  • Home
  • In Profile
  • Finance
  • Legal
  • Technology
  • Events
  • Features
  • Wellbeing & Mental Health
  • Marketing
  • HR & Recruitment
  • About
  • Advertise
  • Events Calendar
  • Business Wall
  • Subscribe
  • Contact
  • 0843 289 4634
X (Twitter) LinkedIn YouTube
Trending
  • How employers can help LGBTQIA+ employees thrive
  • Meeting Overload: A symptom of a bigger problem?
  • New Chief Revenue Officer joins CBS to drive strategic growth
  • The Death of the Number-Cruncher CFO: 60% Now Leading Strategy Beyond Finance
  • Why it’s time for law firms to embrace smart identity infrastructure
  • Continuity Planning Is Now the Norm for UK Businesses
  • The Resignation Ripple: How One Exit Can Shake an Entire SMB
  • Risk Assessments for Employees who are Deaf or have Hearing Loss
X (Twitter) LinkedIn YouTube
SME Today
  • About
  • Advertise
  • Events Calendar
  • Business Wall
  • Subscribe
  • Contact
  • 0843 289 4634
  • News
  • Home
  • In Profile
  • Finance
  • Legal
  • Technology
  • Events
  • Features
  • Wellbeing
  • Marketing
  • HR & Recruitment
SME Today
  • About
  • Advertise
  • Events Calendar
  • Business Wall
  • Subscribe
  • Contact
  • 0843 289 4634
  • Twitter
  • LinkedIn
  • YouTube
  • RSS
You are at:Home»Finance»British businesses splash out on staff entertainment as marketing spend drops, new Revolut Business data shows
Revolut business card

British businesses splash out on staff entertainment as marketing spend drops, new Revolut Business data shows

0
Posted By sme-admin on July 7, 2023 Finance

Yesterday, Revolut Business, the global financial super-app for business finance, launched its first spending report. To be published monthly, the Revolut Business Spending Report analyses card spend from more than 150,000 businesses in the UK who use the Revolut Business platform to manage their business finances and expenses.

The inaugural spend report shows that while business spending on entertaining experiences for staff is trending upwards, marketing spend, a traditionally large business outlay, has fallen month on month and considerably across the past 12 months.

Revolut Business card spending data shows that business spend in the UK rose in June, up 2.5% from May, with entertainment and services spending categories seeing the biggest increase in transactions month on month (up 9% and 8%) for Revolut Business customers.

June’s card data highlights that businesses are looking to keep their employees entertained this summer. Spending at theatre ticket agencies was up 21% last month, while spend on tourist attractions, museums and exhibits was also up, rising by over two fifths (43%), with transaction volume up 16%. Theme parks also saw a rise, with transactions up 7% month on month and spending up 38% from May.

In the past year, UK business spending on entertainment has risen by over a fourth (28%) and entertainment related card transactions have jumped by 124%, as businesses have taken a renewed interest in offering their staff and clients opportunities to enjoy the arts and culture. Card spend on theatre tickets has risen by 46% in the last 12 months, spend on museums and exhibits has risen by almost half (48%) and theme park spend has increased 73% year on year. Card spend and transactions at bars, cafes, nightclubs and restaurants has also increased in the past 12 months, with both rising by 7%. These insights suggest a longer-term trend of increased business spend on entertaining experiences.

Spending data from Revolut Business shows that UK businesses are also investing more in their image as June saw an increase in spend on art and photography. Businesses spent 24% more on art in June than in May, with transactions at art dealers and galleries rising by over two-fifths (43%) month on month. Card spending on cameras and photography supplies also rose by nearly a third (32%), while transactions at supply stores rose by 15%. In the past year, UK business spend on art has increased by over a third (34%), spend on commercial photography and graphics has risen by 16% and spend on photo developing has also jumped, rising 44%, showing a strong business focus on improving brand image.

Business spend on electronics, digital goods and IT services also rose in June. Card transactions for digital applications rose by a fifth (21%) last month, with year on year card spend on software up 3%. Month on month, spending on digital games rose by a fourth (24%) and spending on computer programming increased by 3%, with transactions up 16%. Spending at electronics stores also rose 7% last month, as businesses sought to improve their digital infrastructure across the board.

While spend on the arts, culture and digital goods is rising, UK business spend on marketing fell in June as transactions dropped by an average of 6% across all direct marketing categories. Card spending on direct marketing with catalogue merchants fell 8%, while inbound telemarketing spend fell by a fifth (20%). This fall comes in contrast to a 34% rise in marketing spend in the month of May. More broadly, in the past year average direct marketing spend has fallen by 30%, with transactions falling by a fifth (21%), suggesting a bigger long-term trend of falling marketing spend amongst UK Revolut Business customers, suggesting that businesses may be retreating away from excess costs during this period of high inflation.

James Gibson, General Manager of Revolut Business said that card data from Revolut Business highlights an interesting shift in business priorities in June.

“UK businesses are spending roughly the same amount of money overall, but it’s shifting in line with seasons and the economic environment. As we move into summer, we see businesses shifting their spending towards entertaining and investing in their image, which could be a result of businesses looking to attract and retain talent in the tight labour market we see at present.

Businesses are spending less than last year on marketing efforts, most likely due to today’s tough economic environment.”

Revolut Business is an all-in-one financial operating system that supports businesses to manage their team spending and expenses. The platform has processed more than £115 billion in transactions since launching in 2017.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Five ways to monetise your business EV chargers

Are you flying blind on your most important business decisions?

Return fraud: what it is and how online retailers can protect themselves

Comments are closed.

Follow SME Today on Linkedin and share all the topics you find interesting

The Newsletter

Join our mailing list for the best SME stories, handpicked and delivered direct to your inbox every two weeks!

Sign Up
Personal Pension offer
Events Calendar
    • Marketing
    September 9, 2025

    SEO 101 for SMBs: Reaching Customers with the Right Visuals

    August 29, 2025

    OneMetric forms strategic partnership with RevOps expert to drive UK growth

    • Finance
    September 3, 2025

    Five ways to monetise your business EV chargers

    September 1, 2025

    Are you flying blind on your most important business decisions?

    • People
    September 11, 2025

    New Chief Revenue Officer joins CBS to drive strategic growth

    August 14, 2025

    A Life Worth Saving – A Tribute to Dame Stephanie Shirley CH, 1933–2025

    • Health & Safety
    September 2, 2025

    1 in 3 employees anxious about lack of first aiders at work

    July 1, 2025

    Temperatures Soaring: Is Your Workplace Becoming Unsafe?

    • Events
    September 9, 2025

    Nominations for the 2026 Bold Woman Award by Veuve Clicquot open

    July 22, 2025

    South West Expo Delivers Outstanding Event at Swindon’s STEAM Museum

    • Community
    July 11, 2025

    Building community, one cause at a time

    June 23, 2025

    Celebrating One Year In Fairford Supporting The Community

    • Food & Drink
    August 22, 2025

    How to get stocked by major retailers as an SME

    July 18, 2025

    Warning to Small Businesses Over New Food Waste Regulations

    • Books
    September 3, 2025

    New book on conquering fear of public speaking

    August 7, 2025

    Learning to Leave a Legacy in Business

    About

    SME Today is published by the same team who deliver The Great British Expos’. We have been organising various corporate events for the last 10 years, with a strong track record of producing well managed and attended business events across the UK.

    Join Our Mailing List

    Receive the latest news and updates from SMEToday.
    Read our Latest Newsletter:


    Sign Up
    X (Twitter) YouTube LinkedIn
    Categories
    • Books
    • Community & Charity
    • Education and Training
    • Environment
    • Events
    • Features
    • Finance
    • Food and Drink
    • Health & Safety
    • HR & Recruitment
    • In Profile
    • Legal
    • Marketing
    • News
    • People
    • Property & Development
    • Sponsored Content
    • Technology
    • Transport & Tourism
    • Wellbeing & Mental Health
    • ABOUT SME TODAY: THE GO TO RESOURCE FOR UK BUSINESSES
    • Editorial Submission Guidelines
    • Privacy
    • Contact
    Copyright © 2025 SME Today.
    • ABOUT SME TODAY: THE GO TO RESOURCE FOR UK BUSINESSES
    • Editorial Submission Guidelines
    • Privacy
    • Contact

    Type above and press Enter to search. Press Esc to cancel.