It’s been impossible over the last 20 months not to feel great sympathy with any owner of a licensed business. Whether you are a sole operator or one of the largest multiple groups, it’s been a challenging time across the board.
As the various lockdowns were lifted it became clear that businesses in suburban and rural locations, with good external areas and with a bias towards food, were some of the quickest to begin to recover. Those in city centre locations have typically struggled to bounce back as quickly, with some operators having to take the view that it simply didn’t make sense to reopen until restrictions were fully lifted and office workers and tourists were starting to return in large numbers.
The back-to-school feeling certainly came around in September and the data so far suggests that footfall from office workers in city centres has increased. London Underground reported its busiest morning since the start of the pandemic in September and data experts Springboard reported city centre footfall growth across the UK. Figures still remain below pre-pandemic levels though so it does beg the question of whether we will ever see things completely return to normal, or if we have found a new way of working.
It seems premature to be drawing any meaningful conclusions but there are reasons for real optimism among city centre operators. Perhaps the best indicator of this is the strong performance of the majority of late night businesses since restrictions were fully lifted. These operators have felt the very worst of things during the pandemic but the enthusiasm shown by customers to get back out to late night bars and clubs is very encouraging, as is their willingness to spend at least as freely as they were in pre-Covid-19 times.
It’s not just nightclubs that are driving this footfall. We don’t all want to shop online, order our food for delivery or buy our drinks from the supermarket or convenience stores when we can go out and enjoy the experience far more in a pub, restaurant or nightclub.
However, it's clear operators will probably need to work harder than ever to entice people to visit their venues rather than go home at the end of the working day.
The very best operators will always find new ways to make that happen. This should ensure that innovation will thrive and we don’t see the sudden surge in the closure of city centre businesses that many have been predicting.
Further information
Savills Pubs, Bars & Restaurants
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