Archives for January, 2009
Why M&B and Greene King have emerged strong through testing times
This week’s upbeat trading results from both Greene King and Mitchells & Butlers are a much-needed boost for the beleaguered pub sector, and demonstrate the discipline companies need in order to remain profitable through the downturn.
‘Save-it for something special’ mentality means going out less, but spending more
The number of times people dined out hit an all-time low in the run-up to Christmas, with 72% of consumers claiming to have eaten out in the first two weeks of December – a 3% decrease on the previous year’s figures and the lowest of any Christmas reading, according to Horizons’ latest QuickBite survey.
The survey showed that establishments being hit the hardest by the current economic downturn are coffee shops, pubs, Indian and other takeaways, with sit-down restaurants in the mid and premium sectors being the main beneficiaries.
The consumers surveyed had eaten out an average of 2.7 times in the first two weeks of December, considerably less often than the average of 3.7 times during the same period the previous year.
“We are seeing a flight to quality with people eating out less but spending more. Spend per head at £12.46 is the highest ever recorded, demonstrating this new ‘save-it for something special’ approach,” comments Horizons’ managing director Peter Backman.
