UK Eating out Market is Growing at the Slowest Pace in 7 Years
Thursday, August 8, 2019
Despite the eating and drinking out market due to grow 1.3% to £91bn this year, it is the slowest rate of growth in seven years, according to research from MCA Insight, an insight agency across the eating out sector.
This research was conducted through consumer surveys, company tracking databases, operator-tailored research and the analysis of MCA’s market sizing.
Having looked at the key trends that affect the market, it seems that the retail, travel and leisure sector is the fastest growing, projecting by 3% this year. Hotels, pubs and restaurants are estimated to only grow by 0.9% to £66.5bn and contract catering to grow 1.4% to £4.4bn.
The average consumer spend has increased by 2%, though is only driven by the inflation of menu prices, with visit frequencies on a steady decline of 1%, and 4.5% drop during lunchtime.