Restaurants, takeaways could make billions by switching opening hours, study says
The latest Barclays study says only a third of British workers now work the traditional 9-5 schedule.
Britain’s bars, restaurants and leisure clubs could make a further £6.75 billion per year just by adapting opening hours to changing working patterns, according to the latest report by Barclays.
They claim only a third (37%) of British workers now work the traditional 9-5 hours, with over a fifth of British workers (22%) saying they need different opening hours. The report also finds that a similar number (19%) expect 24-hour hospitality services.
Restaurants (£2.2 billion per annum), takeaways (£2.1 billion), and pubs, bars and clubs (£1.2 billion) are said to benefit the most if they respond to this demand. Takeaway services, for example, supposedly left nearly a third (32%) of workers unable to order a takeaway as the business was closed. Barclays says this desire to order a takeaway at unusual hours is even higher among young workers (18-24 year olds), with (37%) keen for delivery between 11pm and 5am.
“The current leisure environment does present a number of challenges for the sector’s businesses; the labour supply is challenged by Brexit, rent increases and food inflation are all set within the context of an incredibly competitive market which is already heavily discounting. However, those that don’t adapt to this type of newly developing consumer demand risk being left behind and in this ever-competitive environment,” Barclays Head of Hospitality & Leisure Mike Saul said.
The consumer survey was conducted by YouGov with a sample of 2,334 UK workers, weighted to be representative of all UK adults. They were asked about the leisure services they use from restaurants, takeaways, bars and hotels to health clubs, entertainment venues and visitor attractions. 553 businesses in sectors across the UK were also surveyed.
