Late night venues and wet-led pubs have begun to tap into the trend for casual dining to reduce their reliance on ‘weekend millionaires’, according to research from CGA Strategy.
Speaking at Westons Media Briefing, CGA Strategy on-trade researcher Jonny Jones, said: “The weekend millionaire trend has seen sales consolidate to Friday and Saturday night and 75% of sales go through Friday and Saturday in a typical late night venue, but late night venues are looking at how they can diversify their offer.”
“The number of consumers eating out weekly has risen with 46% eating out at least once per week. Successful operators have managed to drive mid-week trade and reduce reliance on Friday and Saturday sales now making up 55% of a week’s sales,” said Jones.
Jones highlighted that the cider industry needs to consider targeting the casual dining sector as well as restaurants to combat a predicted drop in sales of draught cider at current wet-led pub outlets.
“Forecasted outlet closures pose a threat to draught cider. 54% of volumes are in wet-led pubs, which are declining. We’re currently experiencing net closures of 28 pubs per week. Suburban closures have been worst hit. A food led strategy that targets casual dining as well as restaurants would be wise,” he added.