New kitchen projects set to increase as F&B industry grows
Changes in shopping habits over the past few years have seen many industries suffer as consumers move more to online shopping. However this is not a factor that necessarily negatively impacts on the F&B industry. A recent report shows that foodservice operators are using this change in spending habits to help their industry grow.
Property specialist, Cushman & Wakefield, who published the report, surveyed foodservice operators about their current and future plans, and found that nearly 3,000 new restaurants and cafés could be opening in the next two years. Foodservice operators surveyed said that although demand for sites fell by 14% after the EU referendum, it is forecast to pick up again in 2018. Although recent reports have found that the number of pubs in the UK is falling, the number of cafés, fast food restaurants and takeaways are increasing. From 2016 to 2021 the eating out market is forecast to increase by 17% and to be worth over £103 billion.
As the number of new restaurant entrants to the F&B sector grows and unit numbers increase, there have been some questions over the sustainability of this growth, particularly in light of Brexit and future implications for the UK and investment from overseas operators.
In particular, many shopping centres and retail parks are looking for ways to increase footfall and dwell time, due to the change in consumer spending habits. New shopping centre developments and refurbishments are increasingly being designed to include F&B areas to create experiences that can’t be replaced with online shopping – ie: eating out.
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