Young people eat and drink out less often, says Deloitte report
Young people are eating and drinking out less frequently, according to the latest Taste of the Nation report from Deloitte.
Generation Y consumers (18-34 year olds) have reduced the number of times they go out to eat and drink by 3.7% in the last six months.
There was also a decline in the average number of occasions Londoners went out between spring and autumn, down 9% from 31.1 to 25.7 visits on average per month.
However, the dip seen in Generation Y and London consumers has been offset elsewhere in the UK and by female consumers.
Consumers in the Midlands are going out on average 21 times a month, up 13.1% from when they were asked in the spring (18.6 times). Those in the south west are going out 15.3% more often, up to 18 occasions on average per month from 15.6.
Women are going out on average 17.9 times a month, up from 15 times six months ago. Men are still going out more often at 22.9 times a month, however this is 6% less than in the spring. With the exception of quick service outlets (down from £6.21 to £5.97) and casual dining (from £13.65 to £13.17), all areas of the market have seen a growth in average spend per visit since the same time last year. The formal dining market saw average spend increase from £22.85 to £25.65.
Jon Lake, a corporate finance director in the licensed retail group at Deloitte, said: “Despite the cautious mood, and a period containing numerous activities, including the London 2012 Olympic and Paralympic Games and the Diamond Jubilee weekend, consumers across the UK have continued to go out more often. London has traditionally been a strong driver of growth and remains robust. The slowdown in the capital over the past six months can almost certainly be attributed to these one-off factors and unseasonably wet weather.”
The report said that although Generation Y is planning to go out “8% more often” this Christmas compared to last, overall consumers are expecting an 8% reduction in going out occasions over the festive season. The outlook for the next six months is stable with respondents predicting a 0.5% decline.
Ben Perkins, head of consumer business research at Deloitte, said: “The slow return of consumer confidence is reflected in the gentle, yet constant, pace of growth in the eating and drinking out market.
“However, that confidence remains fragile. A cautious consumer mindset prevails and is dependent on a number of external factors such as the economy, inflation and job security. If the country experiences a hard winter, this too will impact the sector. As such, growth over the coming period is expected to be steady rather than spectacular.”
The survey was completed by a nationally representative sample of 3,000 British adults during October 2012. It takes into consideration every time they purchase drink or food from a pub, bar, coffee/sandwich shop, fast food outlet, restaurant or club, whether it be a sit-in or takeaway occasion.