6,300 bars and restaurants will fail by 2015, BDO predicts

15 October 2010 by
6,300 bars and restaurants will fail by 2015, BDO predicts

More than 6,300 bars and restaurants will fail by 2015.

That's the grim prediction from accountant and business adviser BDO, which warned that hospitality businesses would need to adapt to survive.

As part of a wider study into the state of the retail market in the UK, BDO said that the post-crunch consumer has shifted to a "more reasoned and thoughtful" form of consumption.

The company said that customers were now less impressed by size, volume or variety and were making more purchasing decisions based more on individuality of service.

Don Williams, head of retail at BDO commented: "One size no longer fits all. Businesses will not survive and thrive if they do not take steps to understand the psychology of the new consumer. The recession has been a catalyst for change and people are becoming much more demanding - they want a personalised experience without paying a premium for it. That means consumers want to buy from retailers who target and treat them as individuals."

The study is the second report in a series called Transitions, and aims to provide guidance to businesses who want to re-think who their customers are, and reconsider the level of service they are providing.

But it was not all bad news. BDO also said that consumer spending is expected to recover and continue to grow, with growth in retail spend forecast to edge up from 2.6% to 2.8% next year.

Sell up this year to get a good price, advises BDO >>

By Neil Gerrard

If you have something to say on this story or anything else join the debate at Table Talk - Caterer's new networking forum. Go to www.caterersearch.com/tabletalk

Caterersearch.com jobs

Looking for a new job? Find your next job here with Caterersearch.com jobs

[Newsletters For the latest hospitality news, sign up for our e-mail newsletters.
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking