Leading pub and restaurant groups saw collective like-for-like sales ahead 0.9% in October, according to latest Coffer Peach Business Tracker figures.Total sales, which include the effect of new openings, were up 5.1%, In contrast, retail sales figures for the month were down.
The modest uplift comes despite bleaker news for the economy and consumer confidence.
However, the October figures also come on the back of a 2.8% like-for-like rise in September, a 0.6% increase in August and a 1.0% advance in July.
“People may be reluctant to go out and buy more ‘stuff’, but they are still willing to go out to eat and drink. It’s about the experience, especially if it’s good quality and great value,” commented Peter Martin of Peach Factory, which produces the sector Tracker, in partnership with KPMG, UBS and the Coffer Group. In all, 24 companies contribute data.
“Quality is still the main factor in choosing where to go out, but value is becoming increasingly important, and with the cost of eating-in and eating-out narrowing in many parts of the market, it remains an attractive proposition even for those with families,” Martin added.
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