Hospitality spending up year-on-year
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The exclusive insight service shows 6.5 pence in every pound of consumers’ spending between January and July 2023 went on out-of-home eating and drinking—an increase from 6.2 pence in the same period last year. The entertainment / leisure and travel categories also increased their share of spending, in a welcome sign that consumers remain keen to prioritise hospitality experiences even when money is tight. The figures are revealed in the launch edition of BrandTrack Plus, CGA by NIQ’s new research tool that combines consumers’ out-of-home preferences with card spending data to deliver expert analysis of engagement with key hospitality brands. Typically, consumers that visit Nando’s spend over a quarter of their restaurant budget there (27%) and 73% at other competitor restaurant brands. Ego (21%) and Pizza Hut (19%) rank second and third for restaurant groups with the highest level of consumer spending at brand relative to their competitors, while Dishoom, Hickory’s and Hawksmoor score highest for both guest satisfaction and Net Promoter Score. Karl Chessell, CGA’s business unit director - hospitality operators and food, EMEA, said: “It’s encouraging to see that hospitality venues have increased their share of consumers’ spending this year, and it’s testament to the compelling experiences offered by Britain’s restaurants, pubs and bars. But in a competitive and fast-changing market, there is no room for complacency. Our data consistently shows the close correlation between satisfaction and sales, so all brands need to stay laser-focused on guest experiences and the fundamentals of hospitality. Cutting through the noise of data to get actionable insights is the first step to gaining share over the rest of 2023 and beyond, and our new BrandTrack Plus service is the ideal launchpad for successful strategies.”
Subscribers to BrandTrack Plus can receive monthly delivery of spending data, in addition to in-depth analysis from BrandTrack survey. Operators interested in taking advantage of the new service should email retail@cgastrategy.com.