A new survey by Lumina Intelligence has revealed promising signs of a modest recovery in the UK on-trade, with both consumer spend and frequency of visits rising in October 2024.
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The Bank of England’s base rate, also referred to as the Bank Rate or simply the interest rate, is a key economic tool that affects the cost of borrowing and returns on savings in the UK. Set by the Bank of England, it helps control inflation and maintain economic stability.
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Hospitality has had a rough three years. As the dust settles on Covid, we are still coming to terms with the impact of closures and restrictions which wreaked havoc on the nation’s ability to socialise, and this cut a vast swathe through industry profits. Ultimately, Covid-19 decimated sales and led to thousands of venue closures and job losses. But a new survey looking at consumer opinion offers a smidgeon of light at the end of the pandemic and cost of living tunnel.
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As the hospitality industry continues to face a mounting crisis of cancellations and closures in the wake of Omicron and Plan B restrictions, UKHospitality chief executive Kate Nicholls has urged the government to step in and save many businesses from going under.
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Managed restaurant, pub and bar groups achieved a ‘significant bounce’ in sales in September, the latest edition of the Coffer CGA Business Tracker has revealed.
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UK consumer confidence to eat out continues to rise, with 10 million more people visiting bars and restaurants in August over June, with an additional 2.4 million also likely to venture out for the first time during the next fortnight.
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Nearly a quarter of Britain’s licensed premises were still to reopen at the end of August, with the London market particularly slow to recover, new data has shown.
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Food sales went through the roof in the first three weeks of the government’s The Eat Out to Help Out (EOHO) scheme, helping to normalise going out for Brits and jumpstarting the UK hospitality industry back towards health and prosperity.
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Consumer confidence with regard to eating and drinking out dipped in the UK in July as the reality of an altered hospitality landscape sank in.
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CGA has calculated that 145 million additional pints of beer will be sold through the on-trade as a result of the new 1 metre distancing rule, compared with what would have been sold with 2 metres.
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Wine consumption in some of the UK’s nearest neighbouring markets looks to be steady, with consumers maintaining overall wine consumption as lockdowns ease.
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The latest CGA Fourth Business Confidence Survey, canvassing opinion from hospitality industry leaders, has revealed concern over the frequency of consumer visits to pubs, bars and restaurants during the second half of 2019.
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The number of leaders with confidence in the future of their own company within the eating and drinking-out market took a knock in the three months to November 2018, according to the latest CGA Business Confidence Survey.
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Consumer confidence in the wine category is increasing, driven by the ‘experience economy’ and the growing engagement with the drinks category, research analyst Wine Intelligence has claimed.
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Forecasters are predicting that bars and pubs could be set to exceed last year's Christmas takings, despite continued “shaky” consumer confidence post-Brexit.
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