Restaurant, pub, and bar groups have now achieved 14 months of like-for-like sales growth in a row, according to the Tracker.
November’s figure marks an increase from October’s figure of 3.2% and is close to the current rate of inflation in the UK, as measured by the Consumer Price Index.
“November’s solid growth raises hopes that consumers are starting to spend a little more freely, and that hospitality might move into consistent real-terms growth in 2024,” says Karl Chessell, director - hospitality operators and food, EMEA at CGA by NIQ.
The Tracker indicates an equally solid month for pubs, where like-for-like sales were 5.0% ahead of November 2022; and restaurants, where growth reached 4.9%.
However, sales in bars were 6.9% down year-on-year to continue a dismal 2023 for the channel.
For the first time in 2023, total sales growth in the Tracker was slower in London than the rest of the country. Groups’ sales within the M25 in November were 3.5% up on last year, slightly behind the increase of 4.2% elsewhere.
Despite his optimism, Chessell adds that with the sector still besieged by relentlessly high costs conditions will stay challenging for some time to come.
“Christmas trading can make the difference between a modest year and a good one, so all businesses will be hoping that consumers’ celebratory mood translates into confident spending on eating and drinking out.”
