Sydney, Oct 23: The Australian pub industry is poised for a remarkable resurgence as we head into Summer 2024.
With the closure of pubs and restrictions on social gatherings affecting not only the hospitality sector but also the fabric of Australian society, the industry experienced a staggering deficit in 2022.
However, a new opportunity now beckons, offering hope and revitalization for both publicans and pub-goers.
The latest IBISWorld Pubs, Bars, and Nightclubs in Australia 2022 report reveals that the industry’s revenue in 2022 was lower than pre-COVID levels.
Although the industry is on a path to recovery, it is forecast that total annual revenue will remain below pre-pandemic levels in 2023.
This decline can be attributed to shifting consumer behaviors and the increasing cost of living.
Addressing the Challenge of Post-COVID Behavior Change
During the pandemic, the convenience of ordering home-delivered meals through food delivery apps became a new norm for many Australians.
According to a report, there was a significant increase in individuals opting for door-to-door meal delivery.
While this trend was a necessity during lockdowns, there is now a concern that these habits may persist even post-COVID.
This behavioral shift presents an opportunity for the pub industry, as it strives to bring people back out with friends and family, thereby bolstering social cohesion.
A recent study revealed a growing number of people who are struggling or perceive themselves as “just getting along.” Social connection plays a pivotal role in happiness, making pubs and bars ideal places to foster these connections.
Restoring the Balance: From Food Delivery Platforms to On-Premise
The Australian Bureau of Statistics data indicates that Australians have not faced such cost-of-living pressures in over two decades. With the food and beverage industry known for its pricing variances, choosing when and where to visit venues can present significant cost-saving opportunities while supporting local establishments during quieter periods.
To address these challenges and encourage patrons to return to their local pubs and bars, The Happiest Hour platform offers a range of strategies:
- Food and Drink Combo Offers: The platform has observed a growing demand for meal and drink combinations in an affordable price range.
- Cocktail Happy Hours: Historically, cocktails were a sought-after drink item on our platform, and users consider reasonably priced cocktails as great value.
- TikTok Micro-Influencers: TikTok influencers within the hospitality industry have witnessed a significant rise in volume and effectiveness. Venues targeting the 18-34 age bracket can benefit from collaborating with suitable TikTok influencers.
The Happiest Hour: Paving the Way for Pub and Bar Success
The Happiest Hour platform aims to make everyone happier – both customers and venue owners – by redirecting revenue back into the Australian pub industry. To get discovered by potential patrons, venues are encouraged to list themselves on the platform.
As the Australian pub industry embarks on this exciting journey to reclaim its vitality, The Happiest Hour stands ready to support the revival, rekindle social connections, help with the increased cost of living stress, and bring joy back to communities.
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