Managed pub and bar group TCG enjoyed a strong Christmas and New Year’s trading with an average 7% uplift in turnover across the estate.
Diversity sells
The diversity of the company’s estate, coupled with investment in targeted capex and product promotions, enabled it to maximise seasonal sales opportunities from corporate party bookings and drinks-led celebrations to post-shopping coffees and informal festive dining.
Chief operating officer Nigel Wright said, “Our festive performance reflected investment earlier in the year. Corporate bookings, for example, were up thanks to an earlier, more structured drive to secure this business, while several of this year’s capex sites enjoyed massive, even record-breaking, sales over the holiday period.
“We saw significant divergence in the sales uplift, by type of pub, by week and by region – Christmas 2013 was very much a ‘moveable feast’, with the busiest sectors of the market changing as the extended festive season progressed.
Upturn in consumer confidence
“There was a definite upturn in consumer confidence this year. Whether they were in our more aspirational London venues, in young bars, high street or community pubs, there were more people going out to celebrate than there have been for some years – provided they were getting value for money.
Record sales
“In our food-led businesses in particular, our sales managers did a great job of getting large parties booked in early. London venues including Henrys Café Bars in Covent Garden, Piccadilly and West India Quay were very strong. Henry’s Covent Garden set a new record, with sales in excess of £125k in the week to December 22. Overall, we saw a 10% increase in food sales across the business, with new menus launched in November, as well as strong Christmas offers, proving very popular.
“As in previous years, the last Friday before Christmas saw many businesses either shut down for the festive season, or employees start an extended holiday, making it by far our biggest Friday of the year for drink sales. Our northern businesses in particular really benefited on this traditional close-down day, although the big sales uplift is starting later in the day each year.
Hot drinks
“It wasn’t all about alcohol though, with the combination of last minute shopping trips and an early start to sales prompting many shoppers to seek out a reviving hot drink – helped by our new seasonal hot drinks range including flavoured coffees, hot chocolate, mulled wines and cider.
“Overall, our diverse range of businesses offered the very best service levels and festive hospitality, tailored to their specific local markets, which should help to ensure that many people who visited our pubs and bars this Christmas will be back for more in 2014.”