Hospitality sales grew 6.9% year-on-year in the latest 12 weeks: ‘optimising retail pricing will be a key focus for operators in the months ahead’
Hospitality sales grew 6.9% year-on-year in the latest 12 weeks, according to analysis from HDI, the leading provider of card spending insight and market pricing data to the UK hospitality sector.
Fastfood & Takeaway and Coffee & Sandwich continue to be the best performing sectors, whilst Pubs & Bars and Other Restaurants have seen improved growth rates over the 12 weeks ending 2/1/24 following a strong Christmas trading period.
Mark Bentley, business development director at HDI, said: “It’s been encouraging to see strong numbers delivered over the Christmas period, with the hospitality sector enjoying its first ‘proper’ Christmas trade since 2019.
“However, with the National Living Wage increases coming in April and continued cost pressures, optimising retail pricing will be a key focus for operators in the months ahead. We expect to see further price increases in the early part of 2024, keeping inflation in the high single-digits.”
HDI’s panel tracks the spending of 10.2 million people across over 160,000 individual hospitality venues, with their pricing data covering c.16,000 hospitality venues and all major grocers.