Whilst the news is filled with negative stories about the future of the drinks trade; this week we are thrilled to report a different tale. According to statistics from a new report, drinks-led businesses saw pubs and restaurants enjoy a 6% boost with regards to like-for-like sales. Who would have thought it? These are despite the doom and gloom stories surrounding the eating-out market’ says CGS; the producer of the report.
Going into more detail, the report disclosed that managed pubs were up 1% nationally in London. However, outside the M25, sales saw a decrease of around 0.3%. On a whole, London outperformed the rest of the UK.
Phil Tate, chief executive of CGA, said these latest figures suggest the market remains “relatively stable” and that people are continuing to go out to eat and drink.
He added: “But that doesn’t disguise the fact that the market is experiencing increasing cost pressures on a number of fronts and that competition is intense. Brands that may have over-extended themselves are now feeling the pain.”
David Coffer, chairman of the Coffer Group, said the results show “a degree of resilience”, especially in drinks-led businesses.
He said: “As it is traditional for consumers to seek out such venues during a recessionary or challenging political and economic period, we feel that this trend will continue and that there will be further growth in the drinks-led sector and also a recovery in well-run, sophisticated restaurant brands.
“Some would say ‘an adjustment’ in the restaurant sector was overdue following a lemming-like expansion programme from London to the provinces over the last five years or more. We believe that lessons have been learnt and that possibly expansion will be comparatively slower, but operators will be redirecting investment into quality products, service levels and value.”
He added: “It still remains a difficult period for the food and beverage sector but the outlook still remains optimistic and positive.”
A big year for Urban Spirit
Here at UrbanSpirit, we can also vouch for these trends, seeing an increase in activity throughout January and February. This is mainly because of our competitive rates! If you are interested in learning more about our services, contact us today!
We offer a range of services. These include:
- bar hire
- cocktail bar hire
- bartender hire
- event planning
- venue hire
- bar building
and much more!