The amount restaurant owners are borrowing to keep their own businesses afloat has increased 12% in the past year, from £377 million in 2020/21, to over £424 million in 2021/22, says Mazars, the audit, tax and advisory firm.
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The average amount consumers spend each month in restaurants, takeaways and pubs has fallen since the start of the pandemic, with restaurants the hardest hit, new research has found.
An independent survey of 2,000 UK adults, conducted by Peckwater Brands, claims rising inflation and energy costs have reduced consumer spending, leaving hospitality businesses at risk.
Restaurants have seen the highest drop-off in consumer spending since the start of 2020, down 16% from £58.90 per person per month to £49.30. Spending in pubs fell 14.6% from £47.90 to £40.90, while spending on takeaways saw the lowest reduction, falling just 10% from £47.70 to £42.30.
While the cost-of-living crisis continues to loom large, the majority (63%) of UK adults surveyed said they still consider takeaways a treat they look forward to, with 34% intending to continually get them regularly (at least once per month) with 33% budgeting for this expense.
Research by CGA by NielsenIQ and non-alcoholic spirits brand CROSSIP suggests that 67% of bar professionals have increased their range of no/low alcohol drinks over the past year, and 82% will do so over the next 12 months, demonstrating the growing importance of the category to consumer choice.
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The staffing crisis is very much still underway heading into Christmas, data from CGA has revealed, with one in nine jobs in hospitality still vacant despite improvements in recruitment.
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October sales at Britain’s top managed restaurant, pub and bar groups were 1.5% ahead of the levels of October 2021, CGA has revealed.
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Pubs, bars, and restaurants are recording positive sales in Britain’s major cities — but high inflation is making real-terms growth very difficult.
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The restaurant sector is showing some strong recovery after running the gauntlet for the past couple of years. However, alcohol’s future looks more tenuous, with the role of drinks – and the share of more expensive, premium products – becoming increasingly squeezed by ever-ratcheting living costs.
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Chefs used to steal all the limelight in restaurants, leaving front-of-house in the shadows, except for a few exalted characters who managed to gain notoriety across the trade. The rise of the superstar sommelier, however, shifted more focus to the service side, with films and documentaries adding to the allure of the wine gurus fronting the drinks offer that complements the food.
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Diageo, maker of Guinness, Smirnoff and Johnnie Walker, has announced a new three-year partnership with Springboard and The Prince’s Trust to help tackle the staffing crisis in the hospitality industry.
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More than a third of the UK’s hospitality sector faces closure in 2023 due to the ‘cost of business crisis’.
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As British consumers maintain some of the delivery and takeaway habits they picked up during Covid-19 lockdowns, the latest CGA by NielsenIQ Hospitality at Home Tracker highlights a growing trend – with drinks’ share of these sales increasing by 15% versus the start of 2022.
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Unemployment levels are at a record low, while the total number of job vacancies in May-June 2022 was 1.3 million, according to the latest figures released by the Office for National Statistics (ONS).
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Hospitality has lost 2,200 licenced venues in three months as crippling costs and staffing issues continue to hit business operators.
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It seems no matter where the cost increase comes from – whether it be energy bills, business rates or fuel increases – the consumer will always pay the ultimate price.
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The number of pubs closing across the country, having called last orders for the final time, has rocketed by 50% in the last three months.
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The World’s 50 Best Bars 2022 have been announced, and Paradiso, Barcelona, ranks No.1. It marks the first time this accolade has been won by a bar outside New York or London.
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According to data from OpenTable, the global restaurant booking system, dining numbers in London are falling short of pre-pandemic levels.
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On Sunday, October 2, prime minister Liz Truss announced that red tape would be cut for thousands of growing businesses.
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On-trade drinking occasions are holding up despite the cost-of-living crisis, according to drinks insights agency, Proof Insight.
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Leading drinks manufacturer and distributor C&C Group is embarking on a new, three-year partnership with the Big Issue Group to support the communities it serves across the UK and Ireland, aiming to change lives through enterprise.
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