Promising figures have been revealed for those in the hospitality industry. The latest figures from the VISA UK Consumer Spending Index show that in June, growth for hotels, restaurants and bars reached an 11 month high.
Of the eight sectors measured, hotels, restaurants and bars had the strongest increase in spend (5.4%) compared to June 2017 and food and drink retailers also registered an increase in expenditure of 2%.
What’s the increase down to?
It’s difficult to pinpoint exactly what has led to the growth, but it is widely believed to have been attributed to England’s terrific World Cup run and the sunnier weather that the UK is experiencing this summer.
When the sun is out, there is a feel-good factor and when people are happy, they generally spend more. With more reason to go out and socialise, consumers have been flocking out and restaurant and bars have felt the main benefit.
Eating out spending up
Specifically, eating out has seen a large boost and is a further sign of consumer confidence. The 2018 Deloitte Leisure Consumer Q2 report has shown that consumers spent 5 per cent more on eating out compared to the same period in 2017.
Whether it’s a fry-up in a café or an extravagant family meal out, there is a sign of consumers spending more disposable income on leisure. Which is, of course, welcome news to restaurants, bars and casual diners.
Contract furniture
If your establishment has been experiencing unexpected levels of demand this summer, is it time for some new or additional furniture to cope with the waves of customers? Trent Furniture is a commercial furniture supplier for restaurants, bars, cafes, hotels, clubs and much more.
We stock a wide range of affordable quality contract chairs, tables and furniture packages. At Trent Furniture we have both the experience and range to offer you the very best selection of furniture for your individual needs.