Dubbed the first year of proper freedom from COVID restrictions and its impact on the hospitality industry, 2023 is already showing some interesting insights into consumer preference and performance.

Quantaco has released its a quarterly report covering the period January – March 2023 which will form part of a larger annual report later in the year, with some surprising performance metrics so far. 

To download the full report and get access to further data and analysis, click here. 

In the meantime, here’s a snapshot of what to expect:

13% Increase in Total Weekly Sales

The start of 2023 is was very different from the same period last year, COVID-related restrictions were all lifted,  illness continued to decrease and consumer confidence was high. This resulted in a positive rebound for hospitality with hotels, restaurants and clubs enjoying a surge in patronage and sales.

And when it comes to sales, average weekly sales in the industry have seen an increase of 13% compared to the same period in 2022. As customers continue to go out of their homes to socialise, return to the office or travel, sales will continue.

You can view the variance of wages, net contribution, and EBITDAR in more depth in the report here.

Food Over Beverage

Consumer preferences and behaviours have undergone a significant shift as customers are focused more on food over beverages. By the numbers, there is a 34% increase in weekly food sales, compared to 18% for beverages. 

Much of this growth will have come from a normalisation of food sales this year over last where venues were struggling to find staff to operate dining outlets combined with consumer hesitancy over eating out.

Decline for Gaming

The gaming side of things has seen a decline with a turnover decreasing 4% compared to 2022, which saw a peak increase due to pent-up demand following lockdowns. 

While this can look negative, it’s more likely we’re seeing a sustainable level of gaming activity that should continue throughout the year.

Wages are flat

While wages have not seen any increase, which can be taken as a positive outcome there is more to the story that has yet to be reflected. With a competitive labour market, and the growing demand for better pay, we could see this increase further in 2023. 

And with wages impacting sales, operational costs and efficiency, businesses need to be more deliberate in their operations not just for operational improvements but to deliver the best customer experience as well.

To discover the in-depth data and insights, check out the full Quantaco report here: