Younger people (18 to 34-year-olds) are “defying the challenging economic conditions” by going out to eat and drink 29% more often than at the same time last year, according to the latest Taste of the Nation report from business advisory firm Deloitte and BDRC Continental.
The latest wave of survey results reveal the average UK consumer is going out for food and drink on 19.8 separate occasions per month, up 13% versus the same time last year. This is being driven by 18 to 34-year-olds, which is now going out 32 times a month, up from 25 a year ago. That’s twice as often as 35 to 54-year-olds (16 times a month) and more than three times as often as the Baby Boomer (55+ years) generation (10 times a month).
Jon Lake, a corporate finance director in the licensed retail group at Deloitte, said: “The going-out market remains resilient owing to 18 to 34-year-olds more carefree lifestyle and a touch of ‘austerity fatigue’. They expect to go out even more over the next six months, which demonstrates just how ingrained going out is in their lives. It is a lifestyle, not a luxury and has become embedded in their culture.
“18 to 34-year-olds also tend to be heavy users of social media and are highly adept at seeking out online offers to fuel their lifestyle. Operators have been very successful in targeting this particular audience and should continue to do so as they are long-term customers.”
Whilst consumers across all the regions are going out more now than they were 12 months ago, those in the south-east are going out significantly more often than consumers elsewhere in the UK: 23 times a month, up 18% year-on-year, buoyed by the London market. Consumers in the north are going out 19.8 times a month (up 8% year-on-year), those in the Midlands 18.6 times a month (+19%) and in the south-west 15.6 times a month (+1.9%).
In previous surveys, men indicated they intended to reduce their going-out behaviour, however they actually went out more: 24.4 occasions in a month compared to 20.3 last year and 60% more often than women (15 times a month). Both the men and women surveyed now predict they will go out more over the coming months, influenced by the prospect of longer summer days and the hope of better weather.
Source: Deloitte
It would be interesting to find out what the figures for the 18-24 demographic and how they compare; those who are the one hand most unlikely to be unemployed or a full time students but on the other hand, often one of the top priority audiences for bars, clubs, restaurants etc.
These figures do make it clear how vital it is that businesses do not assume that people are ‘cutting back’ on luxuries because of the economic climate; what is often the case is that they are reducing costs on ‘big items’ such as holidays but are becoming more savvy when it comes to their regular outings.