The Lumina Intelligence UK Pub and Bar Market Report 2021 has revealed that 1,930 venues across the pub and bar sector closed during 2020, as lockdown restrictions and social distancing measures heavily impacted trading.
Presenting the report at The Morning Advertiser’s MA Leaders conference on 23 September, commercial director Ed Sibley noted closures associated with the pandemic had reduced the market’s total value from 2019 by £13.9bn.
“37 outlets closed each and every week in 2020,” reported Sibley. “We were seeing positive movement of albeit net closures over the past few years.”
“However, we are predicting that trend will bounce back and continue in subsequent years. Net closures to be offset by 2024 (forecasted).”
Despite the substantial losses generated by the effects of the pandemic, Sibley offered a slightly more positive prediction for the current market, noting “we expect £5.7bn of growth this year.”
Elsewhere, the report detailed the changes in consumer behaviour brought about by Covid, with 55 percent of customers now preferring to browse menus via a QR code and app, while 15 percent would like to be offered specific promotions for using an app to order.