Despite the recession, consumers are still eating out, but have reduced their average spend when they do so by going to cheaper outlets and choosing those offering good money-off deals, according to new research.
New statistics from market analyst Horizons show that, on average, consumers spent £189.61 on eating out in the high street during the first six months of 2009, compared with £200.26 in the corresponding 2008 period - a decrease of six per cent.
This year, consumers are spending an average of £6.45 per meal, compared with £6.62 in 2008. The figures also show that the quick service restaurant share of spend has grown from 41.2 per cent to 42.2 per cent, demonstrating the growing popularity of fast food outlets and takeaways.
Horizons managing director Peter Backman, said: “The eating out market is unlikely to improve into 2010. The cost-conscious consumer is here to stay and that consumer is looking for value-for-money and attractive offers. That’s not likely to change in the short term and most operators - particularly the high street restaurant chains and pub operators - are doing a great job of adapting to this.”
Horizons’ predictions follow recent results from the major pub chains. Greene King announced that like-for-like sales across its food-led pub estate were 8.1 per cent up on last year. Whitbread’s pub-restaurant chains showed a 2.1 per cent increase in like-for-like sales in the first half of this year, with its value-for-money focus attracting 7.2 per cent more customers.
Backman added: “The consumer of 2010 will be paying off more debt, taking on less borrowing and tightening the purse strings when it comes to discretionary spend. Average spend is likely to drop further still so the challenge for foodservice operators going forward is to keep people coming through the door with innovative deals and interesting menus without jeopardising margins.”
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