Prior to COVID-19, consumers, especially young consumers, were increasingly looking for meaningful experiences rather than just products from luxury brands. However, the foodservice industry was dramatically impacted in 2020 by restrictions brought about by the pandemic, as international tourists were restricted from travel, and all UK luxury foodservice operators faced mandated closures caused by lockdowns lasting several months.
Luxury foodservice experienced a drastic decline in revenue in 2020 due to lockdowns and restrictions preventing even domestic consumers from frequenting these establishments. Foodservice has not seen a return to pre-pandemic levels in 2021, despite the easing of lockdown measures by the UK government from later in the spring of 2021.
Renowned luxury fashion players such as Bvlgari and Ralph Lauren’s Ralph’s Coffee & Bar continued to dominate luxury foodservice in 2020, despite decline for the category overall as result of repeated lockdowns and tighter social distancing restrictions. Even after lockdown measures and social distancing restrictions eased in the UK in 2021, the continued disruption of travel and the temporary closure of these luxury operators put pressure on brands, such as Burberry, which had to close its Thomas’s Café.
As vaccines continue to be rolled out globally, this is allowing social distancing restrictions to continue to ease and travel to resume slowly. The adjustment to a “new normal” is likely to allow luxury foodservice to continue to see growth over the forecast period, as tourism gradually returns to pre-pandemic levels in the UK.
As travel resumes over the forecast period, affluent young gen Z and millennial consumers are expected to seek out brand experiences. These consumers were prioritising brand experiences over products even before the pandemic, and for these demographics, this desire for unique experiences and brand connections remains paramount.
Delivery:
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Understand the latest market trends and future growth opportunities for the Luxury Foodservice industry in United Kingdom with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Luxury Foodservice industry in United Kingdom, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Includes luxury chained cafés/bars and chained full-service restaurants (outlets) and their corresponding sales. Chained foodservice outlets are considered luxury only if they are owned by International Luxury and Fashion houses.
See All of Our DefinitionsThis report originates from Passport, our Luxury Foodservice research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!