Last July, the Spanish invested a total of 3,770 million euros in eating away from home in one of the channels integrated in the food service, which groups together restaurants, hotels, company canteens or vending machines. These data from the consulting firm NPD confirm the recovery of the sector, standing for the first time above (2%) over the same month of 2019, the last exercise prior to the pandemic.
This recovery in spending not only responds to the end of the restrictions due to the pandemic, but is also supported by the increase in prices within the inflationary spiral of recent months. Thus, in July the number of visits to premises in the sector, 675 million, was still 5% lower than in 2019 despite being 19% higher than in 2021.
Despite this clarification, from NPD they recall that the accumulated spending on restoration in the first seven months of the year grew by 37% (21,200 million) compared to the same period in 2021.
These data reflect the optimism with which the Spanish faced the start of a normal summer after the restrictions on the hotel industry, when almost 8 out of 10 believed that their economy would remain the same in the following six months. Thus, 30% of consumers stated that they would increase lunches and dinners with friends and 27% assured that they would go out more at night.
With the return to an inflationary reality after the summer, NPD predicts a final quarter in which the public will try to maintain consumption occasions with cheaper options, something that will affect the full recovery of the 2019 levels of the hotel industry.
In this context, the director of Foodservice of NPD in Spain, Edurne Uranga, recalls that the usual thing is for the consumer to contain spending by recovering habits such as taking the Tupperware to work to try to maintain meals with friends and family.
Sophia Tesfaye is one of the highly experienced employees among the staff at the The Conway Bulletin News portal. Sophia handles our Finance and Technology column. She is an immensely knowledgeable person. She loves reading books, and by book, it means of all the genres. Maximum of the time she is found in the office library searching for topics for her articles. She is an excellent team leader and unique in her ways.
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