Published 9 May 2022
by Adam Hyman
A whole £3.60. That’s what our local coffee shop round the corner from the CODE office in Soho charges for my morning flat white. A pint at the pub nearby is £6.10. I don’t need to explain the reason for these prices.
We’re all aware that the cost of living is increasing. While this has only started to kick in, the coming months will be telling for hospitality as consumers are likely to have less disposable income at the end of each month. Going out for a meal is only going to get more expensive.
Some say the first thing people save on when the economy is looking a little bleak is going out. Others say it’s retail (clothes, furniture etc.) and going out for a few drinks and a bite to eat is something they’d rather spend their hard-earned money on.
After two years of not being able to socialise properly, people still want to live – the restaurateurs I speak to tell me demand is still high. I hope such demand continues. After all, can you put a price on having a good time?