Outlet closures have slowed in the past 4 weeks, with the rate falling below -1% at a year to date level, according to a report by industry analysts Oxford Partnership.
The sector lost another 86 outlets this month, with the hardest hit in Suburban and Urban areas. Operators are still controlling their outgoings by managing their opening hours and we see outlets trading 197k less hours, in the latest week, than last year driven by less outlets and less hours with the average outlet open for 2 hours less a week.
Dwell Time and Footfall grow as fans come out for the Euros
The study revealed that consumer footfall had increased +3% in the latest period as we see fans came out to watch the Euros in Pubs and Bars.
Those consumers who are venturing out are also spending longer over their occasions as the average dwell time continues to grow +3.3% in the last 4 weeks.
Consumer spending
Pubs, bars and clubs saw modest year-on-year growth in June +0.5%, with the influx of sports fans watching the Euros outweighing the bad weather and keeping the category on par with its strong performance in June last year.
However it was a tougher month for restaurants, which declined -11.5% year-on-year, although this was an improvement on last month (-15.7%), reflecting the selective approach cost-conscious consumers are taking to discretionary spending; with consumers choosing to spend less on eating out at restaurants.
Beer & Cider Volumes
Draught Beer and Cider volumes have continued to fall as the category declines -3.7% year to Date (YTD) as the bad weather continued to keep people at home. World Lager +11.2% and Stout +7.8% remain the star performers whilst Premium Lager -13.3% and Core Lager -8.5% continue to drag the category performance down.
