New research from Hospitality Data Insights (HDI), a County Durham-based provider of card spending insight and pricing data to the hospitality sector, suggests that Newcastle bakery and national phenomenon Greggs takes two per cent of all spending in the UK hospitality sector.
Mark Bentley, business development director of HDI, said: “In the realm of bricks and mortar, Greggs shines as the standout performer, with almost £2 out of every £100 spent in UK hospitality finding its way to its shops, up from £1.60 previously. Other notable winners include Loungers, Craft Union, and the broader category of ‘competitive socialising’ venues.
“The pace of opening new sites clearly plays a pivotal role in overall share growth, and with Greggs recently opening a record 17 shops in one week, it’s clearly not going to be slowing down anytime soon! However, I believe that the ability to scale businesses is intricately tied to delivering a relevant consumer proposition consistently, with the ability to really understand their customers and tailor their offers effectively to local markets being key differentiators for the most successful businesses.”
HDI’s card spending data tracked the purchasing behaviour of 10.2m people across the UK hospitality sector and gave insights from the 12 weeks ending December 5, 2023.
Bentley added: “Over the past four years, the UK hospitality industry has weathered a storm of challenges, from the disruptive uncertainties of the pandemic to escalating inflation, a cost of living crisis, labour shortages, and unexpected disruptions like train strikes. It’s been a rollercoaster ride with numerous highs and lows, and just when optimism surfaces, another curveball seems to be hurled into the mix.
Greggs “As we gaze into 2024, my sense is that the broad shape of the hospitality sector is going to remain relatively stable. While significant shifts in socialising and working patterns have occurred, they’ve largely stabilised, and we’re unlikely to witness further dramatic changes in how people engage with the hospitality sector in the coming years. Despite inevitable challenges, such as further inflationary pressures with the National Living Wage increase in April 2024, businesses can now adopt a more strategic approach and plan for the future.”
