The average amount consumers spend each month in restaurants, takeaways and pubs has fallen notably since the start of the pandemic, new research has found.
An independent survey of 2,000 UK adults conducted by virtual foods operator Peckwater Brands shows restaurants have seen the highest drop-off in consumer spending since the start of 2020, down 16% from £58.90 per person per month to £49.30. It found spending in pubs fell 14.6% from £47.90 to £40.90, while spending on takeaways saw the lowest reduction, falling just 10% from £47.70 to £42.30.
However, 63% of those surveyed said they still consider takeaways a treat they look forward to, with 34% intending to continually get them at least once per month, and 33% budgeting for this expense. Among Millennials, these figures rise to 53% and 51% respectively.
Sam Martin, chief executive of Peckwater Brands said: “It is not surprising to see consumer spending falling, but the devil is in the detail. Namely, when finances are squeezed, which types of food and drink will people still budget for.
“Clearly, the comfort and ease of a takeaway have protected this area of the sector to a large extent, while restaurants and pubs are taking a harder hit.
“I encourage these businesses to do all they can to boost their revenues, consumers to budget for hospitality spending, and the government to take decisive action to support pubs, restaurants and takeaways.”
