People eating out as much as last year despite fall in consumer confidence

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.”

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