Barclays’ data shows the majority of hospitality and leisure businesses (94%) are confident about their growth prospects for this year following a post-lockdown ‘surge’ in trade.
According to the research consumers are prepared to pay 19.9% extra for healthier food and drink options. More than nine in ten (91%) of hospitality and leisure operators are now prioritising ‘healthy’ products among their portfolios.
While eating out or drinking, those aged 16-24-years-old would be prepared to pay a premium of 35% for products with strong sustainability credentials.
Mike Saul, head of hospitality and leisure at Barclays Corporate Banking, commented: “After a very difficult period for the hospitality sector, it is great to see how well the sector has bounced back. Our findings show an industry brimming with confidence and buoyed by surging revenues.
“We have uncovered strong evidence that, particularly for younger customers, operators will need to place increased focus on healthy, sustainable and safe product ranges and to maintain investment in data and technology.
“Whilst the industry is navigating some short-term challenges around supply chains and labour shortages, operators that prioritise these areas will be an incredibly strong position for the long-term.”
The delivery boom has not subsided since the pandemic, with four in ten businesses reporting continued popularity of home delivery.