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EATING AT HOME AND 'AL DESKO' BACK IN VOGUE AS CREDIT CRUNCH BITES

09 Feb 2009

British dining habits are being dramatically affected by the changing economic climate, with over half (56 per cent) of Britons cutting back on eating out, new research from Abbey Credit Cards (1)   has revealed. Eating in is firmly established as the new dining favourite, with Britons cutting back on restaurant meals and pub lunches in favour of eating at home.

Takeaways have also taken a significant hit, with 44 per cent of Britons reducing the number of takeaways they buy in favour of cooking for themselves.

The research found that dining ‘al desko’ is also gaining momentum among Britons, with 17 per cent more starting to take a packed lunch to work in the last 12 months to save money. This money saving tactic is most popular among women, with one in five having taken up the ‘al desko’ trend compared to 13 per cent of men.

However, while Britons may be saving the pounds overall by spending less on meals out and takeaways, they are spending an average £50.96 more on groceries each month to cover the cost of eating at home more.

Callum Gibson, Head of Credit Cards at Abbey, comments:  “The current economic climate means that people are looking to make cutbacks where they can to make their money go further. The Abbey Credit Card offers customers 3 per cent cashback on supermarket and petrol purchases for six months up to a maximum of £75(²), helping to ease the cost of food shopping for those who are eating at home more. It also offers a fantastic 0 per cent interest rate on balance transfers for nine months and purchases for three months.”

Customers who are interested in applying for the Abbey Credit Card can telephone 0845 7654 321 or visit their local branch.

Features of Abbey's Credit Card include:

- Ends -

The information contained in Abbey's press releases is intended solely for journalists and should not be used by consumers to make financial decisions.

Abbey and the flame logo are registered trademarks.

Note to Editors

1) Research conducted by Opinium Research in an online poll of 2,266 British adults between 14 and 16 January 2009.
2)3% cashback available on supermarket and petrol purchases for six months up to a maximum of £75, capped at £12.50 a month.

Media Enquiries:

Siobhan O’Shea      Tel: 020 7756 4189
Louisa Dreja            Tel: 020 7756 4211   Mobile : 07826 859 446

The Abbey press office operates from 8.00am to 6.00pm.  Outside of these hours please call 0800 5877708.

Abbey and Santander

Santander (SAN.MC, STD.N) is the largest bank in the euro zone by market capitalization and fifth in the world by profit. Founded in 1857, Santander has EUR 912,915 million in assets and EUR 1,063,892 million in managed funds, 65 million customers, 11,178 branches and a presence in 40 countries.

It is the largest financial group in Spain and Latin America, and is the sixth largest bank in the United Kingdom, through its Abbey subsidiary, and is the third largest banking group in Portugal. Through Santander Consumer Finance, it also operates a leading in 12 European countries (Germany, Italy and Spain, among others) and the United States. In 2007, Santander registered €9,060 million in net attributable profits, an increase of 19% from the previous year.  In Latin America, Santander manages over US$300 billion in business volumes (loans, deposits, mutual funds and managed funds) through 4,498 offices. In 2007, Santander reported $3,648 million in net attributable income in Latin America, 27% higher than the prior year.

In the UK, Santander operates three retail businesses – Abbey, Alliance & Leicester and Bradford & Bingley.  Together they have 1286 branches, over 5,000 cash machines and they provide a full range of retail and corporate banking services to 24 million customers.



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