These numbers really opened our eyes to the business potential provided by London 2012. There are just 27 weeks until the Opening Ceremony and our job is to ensure our customers are in the best possible position to enjoy a fantastic summer of trading
(PRWEB UK) 18 January 2012
Research by independent wine supplier Bibendum Wine Ltd has revealed that there is an extra £323million up for grabs for London’s pubs, bars, hotels and restaurants thanks to next summer’s Olympic Games. Food and drink spend in this sector is expected to rise to £1.24bn, up from a projected £917m in 2011, a rise of over 35%.
Around half of that figure will be spent in hotels with pubs and bars accounting for more than a third. Approximately 13% will be spent in restaurants.
Bibendum Wine Ltd Managing Director, Michael Saunders, said: “These numbers really opened our eyes to the business potential provided by London 2012. There are just 27 weeks until the Opening Ceremony and our job is to ensure our customers are in the best possible position to enjoy a fantastic summer of trading, and capitalise on the opportunity provided by the Games.”
In order to help its customers make the most of the Olympic opportunity, Saunders revealed that Bibendum has been sharing the results of its detailed research with its customers:
“We have researched where this extra money will be spent, and who will be spending it. The results tell us that 68% of visitors to London will come from south east England with just 12% from the rest of the UK, and 20% from overseas. Using our unique consumer insight tool, Prospect by Bibendum, we can profile the types of wines and spirits that will be in the greatest demand next summer. This approach allows us to work with our customers to put together the best possible range to meet next summer’s unique consumer demand.”
Saunders also revealed that Bibendum’s research has highlighted the likely disruption to the on-trade because of extensive road closures.
Research by Bibendum, along with the Local Data Company, reveals that 21% of London’s on trade businesses, over 2500 venues, will be directly affected by the Olympic Route Network (ORN), which will be closed to non-Olympic traffic from 6am to midnight each day during the Games, meaning that normal delivery schedules will be impossible.
This figure increases to 63% of London on-trade venues once the Alternative Route Network, which will be used in the event of emergencies, and the Venue Olympic Route Network, a series of road closures around venues away from the main Olympic Park, are included.
Saunders continued: “The challenge for us is to work with our customers to ensure they are in the best possible position to capitalise on the opportunity – and that means working very closely with our customers on issues such as deliveries to ensure everything runs as smoothly as possible. We have seen some suppliers declare they will offer 24 hour deliveries. The reality is that the situation is much more complicated and demands a far more nuanced approach.”
Saunders revealed that Bibendum is currently contacting all its customers within the area affected by the ORN and is working with each of them individually to find practical solutions to the specific challenges posed by the transport restrictions.