Pubs can weather the credit crunch, says expert

29/08/2008 17:14:34

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One firm has said the pub and restaurant trade are in a better position to get through the current credit crunch than in the early 1990s, it has been reported.

Director of PricewaterhouseCoopers David Trunkfield said the sector would cope in the face of the economic downturn, according to the Morning Advertiser.

A recent survey carried out by the firm showed more than a quarter (27 per cent) of consumers will cut back on trips to the pub or dinners out to cope with rising prices.

However, he said the improved range of "casual dining options" open to customers gives them more freedom and affordability, saying "the credit crunch will not change the course of this cultural behaviour".

The expert also said that the under-25 age group - who may not typically have the responsibility of a mortgage - are still "enjoying the hospitality scene".

Employees in pub and restaurant work might take heart from Mr Trunkfield's advice, in that customers can be retained by making sure they are given the best in customer service and providing them with "a good set menu".

In other news, British Food Fortnight said food producers need to provide consumers with more "value for money" due to the current economic climate.

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