The latest Peach Business Leaders’ Survey interviewed 60 industry CEOs and senior executives in the UK eating-out sector on the issues facing the industry for the year ahead.
It found that most respondents were still reserved about the prospects for the industry as a whole, but were more confident about their own business’ survival and growth.
2011 Hospitality trends
Many old issues faced by the industry remain the same as last year. These include low consumer confidence and the importance of service and good quality food.
However, new issues that have emerged in the survey answers this year include more focus on brand building, social networking and online booking. Companies are also investing more on marketing and taking time to consider customer feedback.
“Our business leaders are sensibly cautious about the market but comparatively optimistic about their own prospects, and they are collectively growing their networks with new sites,” writes the researcher Peach Factory.
”These businesses’ clear intention to invest more in marketing, branding and customer feedback signals their intent to win more market share from the weaker players – because that’s what the supply and demand equation this year will require.”
For tips and information on growing market share and developing customer loyalty, see BigHospitality’s article Growing market share: top tips from Virgin Atlantic.
Admired restaurants and pubs
The Peach survey this year also asked operators which brands they have admired most over the last year, and which they consider to be brands ‘to watch’.
The top five most admired brands were: Nando’s, Jamie’s Italian, Pizza Express, Cote, Drake & Morgan and Geronimo.
The top brands voted ‘ones to watch’ were: Cote, Jamie’s Italian, Byron, Drake & Morgan and Tortilla.
Hospitality Facts & Figures
Overall, 39 per cent of the business leaders participating in the survey said they were optimistic about market prospects, against 28 per cent who were optimistic about their own performance in 2011.
However, 50 per cent expect spend per head to decline this year, against 29 per cent who expect an increase (the rest see no change), while 60 per cent expect visit frequency to fall, against 33 per cent who forecast an increase.
Over half (54 per cent), rate consumer confidence as a “very important” challenge for the year, followed by food costs and cost control. Staff training, marketing and service levels are the top three priorities for investment, just ahead of food quality and menu development.