Catering for changes in the Restaurant Sector
Casual dining remains a favoured pursuit for consumers, who despite keeping a check on outgoings, spent a greater proportion of their incomes on dining out.
The restaurant sector has delivered significant growth in recent years, with turnover growing by almost 40% since 2010, and profit margins in excess of 10% (Source: PMA). This fuelled a c.20% increase in new restaurant openings across the UK over the last five years, with many restaurant chains branching out and exploring opportunities in the regions.
Disposable income growth, residential and office occupancy trends and a recovery in tourism have underpinned the buoyancy of the restaurant sector, with vibrant city locations benefitting the most.