Hospitality venues have increased their share of consumers’ spending this year, with 6.5p in every pound between January and July 2023 going on out-of-home eating and drinking
This is an increase from 6.2 pence in the same period last year, according to CGA by NIQ’s BrandTrack Plus tool.
Furthermore, the entertainment, leisure and travel categories also increased their share of spending, showing that consumers remain keen to prioritise hospitality experiences even when money is tight.
Specific brand data shows that consumers that visit Nando’s spend over a quarter of their restaurant budget there (27%) and 73% at other competitor restaurant brands.
Ego (21%) and Pizza Hut (19%) rank second and third for restaurant groups with the highest level of consumer spending at brand relative to their competitors.
Elswhere, Dishoom, Hickory’s and Hawksmoor score highest for both guest satisfaction and Net Promoter Score.
Karl Chessell, CGA’s business unit director - hospitality operators and food, EMEA, said, “It’s encouraging to see that hospitality venues have increased their share of consumers’ spending this year, and it’s testament to the compelling experiences offered by Britain’s restaurants, pubs and bars. But in a competitive and fast-changing market, there is no room for complacency.
”Our data consistently shows the close correlation between satisfaction and sales, so all brands need to stay laser-focused on guest experiences and the fundamentals of hospitality.
“Cutting through the noise of data to get actionable insights is the first step to gaining share over the rest of 2023 and beyond, and our new BrandTrack Plus service is the ideal launchpad for successful strategies.”
