The UK food and beverage (F&B) market has undergone a period of sustained expansion, which has not been replicated in other retail and leisure sectors since 2008. As the number of new restaurant entrants to the sector has grown and unit numbers increase, there have been some questions over the sustainability of this growth. This is apt, especially when considering the increase in economic and political uncertainty due to Brexit and its future implications for the UK and the wider European region.
EATING OUT SPEND GROWTH AGAINST MODELLED REQUIRED SPEND*
For many analysts and commentators, the key question is whether the past growth in the F&B sector is indicative of a long term structural change in UK consumer spending habits or whether it is a cyclical trend that is at risk of tapering off in the years ahead. To help answer this question Cushman & Wakefield has undertaken a survey of F&B operators to assess future operator demand against future consumer spending forecasts in the F&B sector. The survey covers approximately 95 operators and brands ranging from fast-food operators through to casual and contemporary casual operators.