Eating out market forecast for 4.6% growth

New data from Lumina Intelligence shows a forecast of 4.6% growth for 2023, compared to 2019.

The annual UK Eating Out Market Report indicates that the industry is expected to reach a total value of £95.2bn this year.

Off the back of recent data which has shown promising market penetration and increased consumer confidence, the report, which outlines current trends and future prospects for UK restaurants, states that consumer spending power is expected to improve towards the end of 2023. With easing energy bills, the industry can expect plenty of future growth, according to Lumina Intelligence.
Group enjoying a meal out in a restaurant

After years of closes across the industry, new openings are forecast to be higher than closers this year, giving a compound annual growth rate of +0.3% from 2023 to 2026. Outlets like coffee shops, fast food and bakery are leading the charge by capitalising on opportunities in diverse locations including travel hubs, high street and out of town destinations.

Find the full report at Lumina Intelligence.

Read more...

Read more...

Loading...
Summer has finally arrived which means it’s time to officially put your EPoS to the test. Luckily for you, the ICRTouch ecosystem is filled with intuitive features and robust functionality to support your pubs and bars throughout the summer months.
Artificial Intelligence (AI) is being implemented by more and more businesses across the world, becoming a go to tool to streamline various operations. Although we have learnt a lot about AI and its incredible capabilities, there are essentially endless possibilities for its implementations in hospitality, whether that be front- or back-of-house.