Search
Close this search box.

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...

Loading...
Summer has finally arrived which means it’s time to officially put your EPoS to the test. With the increased footfall in your pub gardens, you’re already thinking about how to get the most out of your solutions, and we’re here to show you how a flexible all-in-one system puts you in a position to react quickly and meet customer needs. ICRTouch solutions have been designed and developed with the hospitality industry in mind, offering a bunch of neat tricks to help you keep things streamlined and efficient. As industry-leading experts, here are some of the game changing tips and tricks we recommend implementing across your ICRTouch ecosystem.
In an effort to bolster educational resources and empower the young people of the Isle of Wight, we have recently been working on a collaborative initiative with our local authority's Library Services team. Over the past few months, we've worked hand in hand to deliver a substantial influx of reading materials to libraries across the Island.
Dive into the peak season with industry-leading EPoS solutions that not only maximise efficiency, but also foster more sustainable operations. The increased traffic you’ll experience during the summer will require more comprehensive resource management, so it’s important to have an all-in-one system you can rely on.  With a seamlessly integrating ecosystem of solutions from ICRTouch, you can rely on intelligent automation to ask the right questions at the right time, ensuring your operations are as efficient as possible, reducing mistakes and as a result, minimising waste. Read more to find out how ICRTouch solutions will keep your pub running as efficiently and sustainably as possible throughout the busy summer season.