August trading dire for London restaurants
In Business Link’s August Restaurant Barometer, two thirds of London’s restaurants said takings had ‘dropped considerably’ since July as conflicting reports in the media about an economic recovery contributed to cautious spending by diners.
Around 63 per cent of restaurants also saw a decline in spend and covers compared to the same month last year, a trend attributed to less-than-perfect weather and a trend for Brits to take their holidays late in the summer.
However, a quarter of restaurants said they had taken on extra staff over the summer, suggesting that some operators are continuing to see growth despite the recession. A similar number also reported no month on month change in performance for August, with some reporting modest gains for the period.
The survey also encouragingly found that 88 per cent of London restaurateurs now maintain a database of customers to whom they target price flexible, and occasion based menus.
