When it comes to institutions in the UK, the pub sits at the top of the list, however, Wwth inflation and rising costs, the price of one of life’s most simple pleasures has been hiked to help hospitality operators combat the rising pressures within the sector.
In a recent survey around affordability, DesignMyNight asked its users how much they spent on their last pint. On September 12TH results confirmed that 72.9% of the public spent between £4 and £6 on their last pint. Meanwhile, 15.6% paid £7 to £9. And 1% of people even said they spent £10 or more on their last brewski. It’s become near enough impossible to find pints that echo the price tag of pre-Covid and 84% of the 1,500 surveys stated that their spending habits have changed due to the cost-of-living crisis.
In the survey, millennials have highlighted just how much hospitality means to them with 50% of people aged between 26 and 35 believing that drinking and dining is essential spending. The hospitality sector is constantly on the lookout for ways to overcome obstacles while maintaining trade, the most recent coming from Stonegate on dynamic pricing where drinks are served at an increased cost during peak hours and a lower cost during quieter trading periods where they run other offers, such as happy hour.
Brewing has become an expensive process and beer itself is an increasingly expensive commodity. On closer inspection, there seems to be only a handful of venues across the capital that lower their pricing during quieter periods for beer when compared to cocktails or wine. One of London’s most talked about food halls, Arcade, run £4 pints between 4pm and 6pm Tuesday and Friday and The Five Points Brewing & Taproom also lower their prices to £3.99 a pint from 5pm until 7pm on Thursdays and Fridays.
Leighanne Bent, Marketing Manager at DesignMyNight comments that “Nothing beats a crisp pint down the pub (whether that’s alcoholic or 0%). It’s something that has brought us together across hundreds of years and although people are becoming more aware of how and where they spend their money, positive behaviour remains on DesignMyNight. Our users are showing a real hunger for coming together and this month we’ve seen a 4.76% increase in interest around craft beer.”
