Stormy weather and post-Christmas frugality dampened eating and drinking out spending in the four weeks to 21 January, according to Lumina Intelligence.
According to the latest Eating and Drinking Out Panel snapshot, participation in the eating and drinking out market dropped -1.3ppts. This was also attributed to a tough comparison year as Covid concerns delayed festive celebrations, thereby boosting spend in January 2023.
Dinner’s share of occasions rose 1.5ppts in January 2024, with the prior year seeing depressed share due to the rising cost of living and train strike activity.
The evening day part has benefited from improved consumer confidence and minimal industrial action in 2024. These gains came at the expense of brunch, which saw a decline of -2.1ppts.
Improved optimism and easing cost pressures have also benefited QSR and restaurants, albeit pubs and bars took a hit due to the delayed festive celebrations last year.
The growth in QSR has driven an increase in wings, nuggets, and tenders, which have risen 1.1ppt year-on-year, while the decline in pub occasions has led pub staples like burgers and chips to lose share.
While average frequency per week dropped to 1.36, the research further found that average spend per visit rose 43.5% year-on-year to £16.56.
For more information on Lumina Intelligence’s Eating and Drinking Out Panel, please click here.
