TAKING A TIME OUT
Time Out Group has reported that its market division has seen revenue growth of 51% to £9m, for the year ended 31st December 2018. Time Out Market Lisbon delivered EBITDA of £4.3m, up 95% year-on-year. In March this year, the business received a €10m loan to support the growth of Time Out Market, which includes a site in London Waterloo scheduled to open in 2021.
Bakery exports from the UK were valued at £903.6m in 2018, up from £784.8m in 2014, according to new figures from the Food and Drink Federation. Overseas sales of baked goods have risen more than 15% since 2014. While sweet biscuit exports were up £40m to £416m, the cake market dipped 13% year-on-year.
After serving its first order six years ago, Deliveroo is now available in over 500 towns and cities around the world. The delivery business is rapidly signing up new restaurants as demand for its service grows – it is working with 20,000 takeaways and restaurants in the UK. The company is set to launch in an additional eight UK towns imminently and plans on adding more than 40 by the end of the year.
GOING OUT IS IN
Average consumer spend on a night out has risen by 15.5% to £68.68, up from £59.49 last year, according to the Deltic Night Index. This increase was driven by an 11.7% increase in spend on food (£16.20), a 10.3% increase on in-venue drinks spend (£19.25), and a 32.1% increase in transport spend (£12.02).
GET SET FOR SUMMER
The Summer 2019 Drinks Trend Report by Monin has found that one in five people in the UK go out for a drink in the summer three or more times a week, increasing to 84% of Londoners. The same proportion (84%) of 18- to 24-year-olds are more likely to visit a pub, bar or restaurant in the summer than winter. Summer sees cocktail sales rise with 66% of people choosing one, compared to just 2% in winter.
In a new global study by Culinary Visions, 48% of Brits said they would not eat dessert while on a diet, compared to 54% of Americans and 52% of Italians. That said, it appears that people would rather limit certain ingredients than completely eliminate them, with 58% of Brits choosing to limit the intake of certain ingredients in order to eat healthier and 78% being interested in cutting down on processed foods and introducing fresher ones.