New industry report reveals hospitality trends for 2023

A major industry report by botanical brewing brand, Fentimans, has revealed the key trends set to impact the OOH and hospitality sector in 2023.

The Fentimans Market Report, in partnership with hospitality data and research consultancy, CGA by NielsenIQ, has identified the changing behaviours and attitudes of consumers when it comes to the on trade industry, and looks deep into the impact of the cost of living crisis, and the issues of health and sustainability.

A key trend explored in the report is the growing concern for the cost of living crisis, with 40% of consumers planning on going out less frequently as a result. Despite this, more than one in three (35%), plan to prioritise hospitality visits over holidays (34%), clothing (24%) and home improvements (19%). To help reduce their spending during these visits, more than half (58%), plan on visiting local venues more often.

Another key trend highlighted in the report is how consumers will continue to be health conscious, with seven in ten (70%) trying to lead a healthy lifestyle, a 6% jump from last year. As part of their health kick, one in seven (14%) say they’re buying healthier drinks than previous years, and half (50%) find no and low alcohol options appealing.

“In last year’s Fentimans Premium Soft Drinks and Mixers Market Report we showed how on premise operators and suppliers were building back from the turmoil of the pandemic. Twelve months on, many of the challenges of the pandemic are now being replaced by fresh ones,” said Jayne Andrews, marketing director of Fentimans.

“It’s clear that consumers are changing their priorities in preparation for a tight few years. However, it’s encouraging that whilst there will be cut backs, there will still be a desire to enjoy high quality experiences.

“As we enter times of uncertainty and financial concern, it’s critical that we understand what this means for the industry.”

Dave Lancaster, client director at CGA, added: “We’re delighted to have partnered with Fentimans to create this critical review of the sector and what can be expected in the next 12-months. The looming financial challenges have naturally changed how consumers plan on spending their disposable income, and it’s clear that this means a demand for quality over quantity during upcoming months.

“If pubs, bars and restaurants can adapt to these changes in habits and preferences, there is hopefully a steady year ahead for the sector – a feat we predict will be welcomed happily following two years of recovering from the impact of the pandemic.”