‘Challenging times’ for industry as confidence falls – CGA Peach reveals

‘Challenging times’ for industry as confidence falls – CGA Peach reveals
08/06/2017 - 09:53
The latest CGA Confidence Survey has found that the positivity of 170 senior executives from across the pub, restaurant, bar and café market has fallen.

The new survey revealed that 66% are positive about prospects for their own businesses in the coming 12 months, with 43% optimistic about the market as a whole. Both of these figures are down from the last survey carried out in February when the respective numbers were 68% and 47%.

The main concerns for the industry executives polled are business rates (79%) and food costs (78%), followed by decreased staff availability, rental and property cost and increased staff costs.

CGA Peach’s vice president Peter Martin, said: “Although to date, the public has generally continued to go out to eat and drink as normal, not surprisingly, 57% of senior executives are now worried about consumer confidence over the next six months.

“Only 8% of operators expect the public to go out more frequently in the next six months, with 31% expecting an increase in spending – although this is down from 41% in February.

“To put this current nervousness into perspective, at the start of 2016 83% of senior executives were optimistic about their own business’s prospects for the coming year, with three quarters (74%) positive about the market. We are now living in much more challenging times.” 

View further statistics from the survey.

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