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Consumer confidence growing but hospitality yet to feel the benefits

23 April 2018 by
Consumer confidence growing but hospitality yet to feel the benefits

Consumer confidence is growing however the hospitality industry is yet to feel the benefit, the Deloitte Consumer Tracker has reported.

Confidence grew by one percentage point to -6% in the first quarter of 2018, the second highest level in the tracker's history.

The growth was a result of falling inflation, rising wages and March's Brexit transition deal. Despite confidence remaining negative, the results mark a major step up from a low of -10% in Q2 of 2017.

The upward trend has yet to impact the hospitality industry, however, with Deloitte reporting that consumers remain cautious regarding discretionary areas, where spending remained flat.

A squeeze on consumer dining, increased labour and property costs have seen several casual dining operators pursue Company Voluntary Agreements in 2018.

Low consumer confidence blamed for lacklustre spending>>

Restaurant industry sees ‘significant increase' in financial distress>>

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