WHAT NEXT FOR THE ON TRADE, POST BUDGET?
Following on from the budget in October 2024, elements of the On Trade find themselves in a more precarious position than ever, as we reach the end of November 2024. Increases in Business Rates, National Insurance, the Minimum Wage, and Alcohol Duty (in some sectors), compound the pressure on an already weathered marketplace.
A snapshot of key data over the recent 4-weeks to the end of November 2024 tells the story in more detail: City Centre volumes were down -16.1%, and previously reduced opening hours remain flat YoY, as operators retain the need to close earlier and be more selective with their opening times / staffing costs. In the 4 weeks to the end of September 2024 (prior to the budget), City Volumes were down only -3.0%, a really stark shift in a short span of time. Over the recent MAT both Total Volume and City Centre volume was down circa -1.5%.
