Thoughts shared with Retail Destination from several of our clients, about their expectations for 2024.
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If you have been reading my thoughts and have been so enthused by the first two – on the future of neighbourhood centres and offices – that you find yourself here to drink in a third, thank you for staying with me. This one concludes the series and is where I’ll be divulging CACI’s Holy Grail: our five pillars of success to understanding the future of place.
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The office-based world has been taken over by ‘middle-weekers’, or, if you prefer, an acronym that I probably shouldn’t spell out. The “Tuesday, Wednesday and Thursday” office-based working pattern is emerging at an unprecedented level.
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Touches of Localism are Appearing in London's West End and its Leisure Hotspots.
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There is something beneficial about uncertainty, it can have the effect of focusing the mind. This is increasingly evident in the ongoing discussions between landlords and operators in the hospitality sector, as they seek an agreement on rent arrear payments accrued because of the pandemic.
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Drive thru’ restaurants are not new. McDonalds pioneered the trend in the UK in 1986, and was soon joined by Burger King, Pizza Hut and KFC, all of whom have had a long-term presence. More recently, the likes of Starbucks and Costa have entered the fray, providing the public with ever more choice and convenience.
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There is an underbelly of inequality in the hospitality sector that is causing incredibly turbulent times. Almost every proclamation from the government swings operators and even entire sectors from the haves to the have nots.
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How great was it to see the shutters came up on those pubs and restaurants when the government signalled that outdoor eating and drinking was possible again. Early winners as a result of re-opening were JD Wetherspoon, Primark and the local barbers, of course.
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We’ve done it!
Hospitality has smashed through two major milestones. First, the opening of terraces to much excitement. And now, the full big opening.
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Since the first lockdown just over 12 months ago, we have seen a major shift in eating habits. The fast forward towards tech-based deliveries, for example, was welcomed and now firmly a part of our lifestyles, despite Deliveroo’s IPO being a disaster. Speaking from personal experience, I welcomed with open arms a well-earned break from home cooking and washing up.
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As firms up and down the country are starting to count the days until they are finally able to reopen, businesses are also starting to count the true cost of the pandemic as they stare at a mountain of debt. While there is hope and elation, there is also a very bitter taste in the mouth as the unfairness of it all becomes increasingly apparent.
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The light at the end of the tunnel is finally getting brighter for some in the hospitality sector. A roadmap is now in place, and while there may be some traffic delays, it is at least looking like the worst of the pandemic is in the rear-view mirror.
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Once again, we are standing on a precipice. This time, however, the drop is even greater. While we wait to see what ‘data not dates’ really means, the re-opening roadmap is just one part of what the industry needs. Cash, clarity and confidence are what everyone is calling for, not soundbites, kite flying and misinformation.
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Despair and anger. Those words summarise what the majority of the hospitality sector is feeling right now. And it is understandable.
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