Drop in spending on bar sales, eating out

CONSUMERS have less and less money for their favourite take-away meal and almost nothing for the odd drink.

Commenting on yesterday’s Food and Beverages sales for March, released by Stats SA, FNB strategist John Loos said the figures continued to paint a bleak picture of the economic climate, which pointed to negative real growth and slower household consumption growth in South Africa compared to last year.

The more luxurious food and beverage areas had seen the greatest pressure, namely caterers, and the more affordable take-away and fast food sector income grew faster compared to restaurants.

Bar sales experienced a 3.4% decline in the first three months of the year, down sharply compared to 16.8% growth last year. – Cindy Preller

 

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