Consumer confidence rebounds as dining out surges in November
Numbers visiting on Saturdays jumped 10 percentage points to 61%, and more than a third (36%) said they had tried a new drink in the On Premise over the last week
Consumer confidence recovers as 75% of people have gone out to eat in November 2024, CGA by NIQ’s latest On Premise Consumer Pulse Report revealed.
The research, which provides suppliers and operators with insights into consumers’ latest habits and priorities, indicates that 92% visited the On Premise in November, up by 2 percentage points from October.
However, numbers visiting for drinks fell by 6 percentage points to 43%. These latest figures echo reports from the CGA RSM Hospitality Business Tracker of a “solid” November for managed hospitality groups.
In further positive signals, 49% of consumers said they had been out at least weekly, and the average visits per month rose slightly to 5.0. Numbers visiting on Saturdays jumped 10 percentage points to 61%, and more than a third (36%) said they had tried a new drink in the On Premise over the last week.
This continues a steady easing in the cost of living crisis in 2024. Around one in seven (14%) consumers still feel severely impacted by rising costs, but this represents a drop of 6 percentage points in the last 12 months.
However, CGA’s research confirms that aftershocks of the crisis continue to be felt. While nearly a quarter of consumers are going out more frequently than they were a year ago, a higher number (42%) are going out less – largely because of increases in their cost of living and rises in food and drink prices.
Despite the difficulties, the report confirms that consumers want to prioritise pubs, bars and restaurants for their spending. Two in five (40%) say they would prioritise their visits if their disposable income fell – more than the number who would protect areas of spending like clothing (36%), home improvements (33%) or international holidays (30%).
Violetta Njunina, CGA by NIQ’s client director, said: “While the cost of living crisis is far from over for some people, there are encouraging signs that confidence is gradually building back after a very challenging few years. Venues and suppliers will be hopeful for a release of pent-up demand over the recent Christmas period, and we can be cautiously optimistic that footfall and spending will continue to increase over 2025.
“Nevertheless, margins remain under strain and additional burdens from the recent Budget are likely to make for a high-pressure trading environment for some time to come.”
