Parents of under-16s and Millennials are propping up the eating out market. As a group, parents are not brand loyal, but they are willing to trade up if they feel their purchases are worthwhile.
Albany, NY -- (SBWIRE) -- 10/04/2017 -- Market Research Hub (MRH) has included a new report in its repository titled 'Eating Out Review - UK - September 2017'. The eating out market in the United Kingdom has recovered well from the economic recession and turmoil since the last eight years. Over the last five years, spending on restaurants has increased in all the regions in the United Kingdom, with the Southwest and Yorkshire/Humber region leading this segment expansion. Looking from an economic point of view, situation is good for the restaurant sector. This is due to the fact that incomes are rising, employment is growing and interest rates are low. Since the interest rates are low, it is having a direct impact on a number of mortgage bound households and their disposable income. However, things are not that rosy as they seem to be.
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During the next five years, it is predicted that household spending will be slow and the longer trend demonstrates that people in the United Kingdom are still spending less on eating out than they were back in pre-recession time in the year 2008. There is still a decade till the spending on restaurants is back at the pre-recession levels. Even in London, which is considered as a leader in the eating out culture in the United Kingdom, the spending on restaurants is less than that of the pre-recession levels. It has been noted that parents of under-16s and millennials are spending the most on the dining out market. While parents as a group are not loyal to any particular brand, they are willing to consider brands if they get the worth of their money. Millennials also tend to prefer eating out in a comfortable environment. On the other hand, restaurant owners are opening up to the opportunities created in the breakfast trade. Restaurant owners are also employing advanced technology to engage with their customers.
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Inclusions of the Report
The report starts with an overview and the executive summary. The report then states that the eating out market in the United Kingdom faces challenges but there are many opportunities for growth in this market. The report gives the data regarding the UK eating out market size and forecast fan chart, 2012-22. The report also gives information on the companies and brands involved in the UK eating out sector and gives information about the food service technologies that are being employed by such brands and companies. Menu and restaurant concepts are also discussed in this report. The report also gives information on restaurants and food outlets visited for eat in meals, May 2017. Also, there is information about restaurants and food outlets visited for takeaway or delivery, May 2017. The report also throws light on the frequency of eating in at restaurants and frequency of ordering takeaways. The report also gives information on reasons for eating out. The report also gives insights about the issues regarding the breakfast potential and its implications. The subsequent section of the report focusses on attracting the millennials and also gives information about the market drivers.
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