Raising the bar: Operators are shaking up their offerings to stir competition amid declining revenue
The Pubs, Bars and Nightclubs industry is among the sectors that received the most significant blow during the COVID-19 pandemic. Ceased trade, closing borders, travel limitations and more led hospitality businesses to suffer tremendous losses, especially nightclubs, as contactless operations were unfeasible. Even when hospitality venues reopened, social distancing measures and health concerns meant caps on patronage numbers, with knock-on effects hindering industry recovery. Likewise, a slow start to international travel has eroded foreign tourist expenditure at pubs, bars and nightclubs, with inbound tourism to New Zealand sitting significantly below pre-pandemic levels. Nonetheless, households have been enjoying higher discretionary incomes because of pandemic-related social assistance packages and surplus holiday funds, which many inject into social doings. This trend has induced an estimated 8.0% rise in 2022-23.
Industry operators sell alcoholic beverages for consumption on the premises or off the premises. Many players also provide food and entertainment services.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.
Table of Contents
Methodology
LOADING...