According to a poll in the UK, consumer confidence had dropped significantly since last year. But the sales data from the Coffer Peach Business Tracker indicates that they are still eating out. Sales reflected a slight increase in growth in hospitality this year, compared to 2016. Lack of consumer confidence normally finds people saving money by avoiding the hospitality industry but this year’s concerns for consumers is not impacting their desire to go out and eat and drink.

Key Takeaways:

• Consumer Confidence has been and continues to fall more than ever.
• Hospitality businesses have not been subject to the fall in consumer confidence.
• Profit margins in the hospitality sector have been getting tighter so the fact that decreased consumer confidence isn’t affecting this sector is welcome news.

“People are continuing to eat and drink out much as they did last year despite a fall in consumer confidence, new figures from the Coffer Peach Business Tracker have shown.”

Read more: http://www.bighospitality.co.uk/Trends-Reports/Coffer-Peach-Business-Tracker-new-figures

As the impending reality of Brexit looms over the United Kingdom, analysts predict that food prices will soon skyrocket as food imports become subject to new tariffs. As it stands, Britain’s withdrawal from the European Union is likely still at least one and a half years away from completion. Still, it is never too early to begin preparation for food price inflation. Wise operators should know to avoid sudden price hikes, learn how to wield technology as a defense against inflated costs, invest in an in-house butcher, standardize portions, and reduce reliance on fish. These and other tips will help food operators navigate the pitfalls of Brexit successfully.

Key Takeaways:

• The United Kingdom’s withdrawal from the European Union is estimated to become official during the first months of 2019, but that doesn’t mean it’s too soon to begin preparing for its effects
• Most food items that operators will be dealing with will be meats, so finding a way to incorporate an in-house butcher could be a cost-saving measure in the long run
• Adopt more flexibility toward less stable food items like fish and cheese, and allow room for your menu to adapt based on market needs

“The tone of the Brexit negotiations may be softening as a result of Theresa May’s election setback, but the Government still looks likely to leave the customs union, which will cause tariffs on food entering the country to shoot up dramatically.”

Read more: http://www.bighospitality.co.uk/Business/10-ways-to-combat-food-cost-inflation