SUBSCRIBE TO TMCnet
TMCnet - World's Largest Communications and Technology Community

TMCNet:  Full-Service Restaurants in the UK Industry Market Research Report Now Updated by IBISWorld

[February 15, 2013]

Full-Service Restaurants in the UK Industry Market Research Report Now Updated by IBISWorld

London, United Kingdom, Feb 15, 2013 (PRWeb.com via COMTEX) -- The Full-Service Restaurants industry has endured a difficult time during the past five years. According to IBISWorld industry analyst Lewis Sutton, "the economic downturn caused many consumers to cut back on discretionary spending, such as dining out, and trade down to cheaper takeaway options or choose to cook at home instead". Other factors that have prevented growth include changes in government regulation and policy concerning wage costs, anti-smoking legislation, alcohol tax and food safety. Several struggling operators have been forced to exit the industry but some have found opportunities to expand their operations. The number of establishments and enterprises has declined overall in the past five years, with the most industry exits occurring in 2008-09. In tough economic conditions and in response to cautious consumer spending, most operators have focused on providing quality food at affordable prices and giving excellent customer service so consumers get the best value for money. Revenue is estimated to have declined at a compound annual rate of 4.5% during the past five years to reach £18.7 billion in 2012-13. Revenue is forecast to decline by a disappointing 1.6% in the same year.


Industry performance should improve over the next five years but will be constrained by lingering sluggish economic conditions. Austerity measures, high unemployment and continued global economic uncertainty will restrict growth and thus also discretionary spending on dining out. Conditions should improve from 2014-15 as a recovering consumer environment makes diners less value-conscious and encourages them to spend more on quality and provenance. Sutton adds, "restaurants that tap into prevailing social and environmental trends and continue to emphasise high-quality, locally sourced produce should perform best". Mobile and online technology will also influence the industry as people use smartphone apps to choose restaurants and make reservations. Industry revenue is forecast to return to growth over the next five years through 2017-18. The number of industry participants is also expected to increase once again, although at a gradual rate.

The Full-Service Restaurants industry encompasses a large number of single-establishment, owner-operated restaurants. As such, it is highly fragmented and owners typically compete on price, menu offerings and cuisine. The top four players will account for slightly over 10% of industry revenue in 2012-13. This equates to a low level of market share concentration, which is not expected to change over the next five years. Major companies include Gondola Group, The Restaurant Group, Whitbread and Blackstone Group.

For more information on the Full-Service Restaurants industry, including latest industry trends, statistics, analysis and market share information, purchase the full report from IBISWorld, the nation's largest publisher of industry research.

IBISWorld industry Report Key Topics This industry comprises sit-down restaurants where a waiter usually takes orders at the table. Restaurants in this industry are licensed to sell alcoholic beverages for immediate consumption on the premises.

Industry Performance Executive Summary Key External Drivers Current Performance Industry Outlook Industry Life Cycle Products & Markets Supply Chain Products & Services Major Markets Globalisation & Trade Business Locations Competitive Landscape Market Share Concentration Key Success Factors Cost Structure Benchmarks Barriers to Entry Major Companies Operating Conditions Capital Intensity Key Statistics Industry Data Annual Change Key Ratios About IBISWorld Recognised as the nation's most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on many UK industries. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in London, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.co.uk or call (020) 3008 6568.

Read the full story at http://www.prweb.com/releases/2013/2/prweb10432443.htm PRWeb.com

[ Back To Technology News's Homepage ]

OTHER NEWS PROVIDERS







Technology Marketing Corporation

800 Connecticut Ave, 1st Floor East, Norwalk, CT 06854 USA
Ph: 800-243-6002, 203-852-6800
Fx: 203-866-3326

General comments: tmc@tmcnet.com.
Comments about this site: webmaster@tmcnet.com.

STAY CURRENT YOUR WAY

© 2014 Technology Marketing Corporation. All rights reserved | Privacy Policy