Figures from Oxford Partnership showed closures slowed in the past four weeks with the rate falling below minus 1% for the year to date.
This was similar to recent data analysis from Altus Group from June, which showed 80 pubs a month were closing during the first quarter of 2024 with 153 pubs having vanished during that period.
Furthermore, the Oxford Partnership research also found operators were controlling their outgoings by cutting opening hours with venues trading 197,000 fewer hours in the last week compared to last year with the average site open for two hours less a week.
Footfall increase
However, dwell time and footfall were up, according to the data insight firm’s research. There was a 3% footfall increase in the latest period, driven by football fans watching the Euros in the on-trade.
Previous data from Oxford Partnership showed more than 17m pints were poured during the final with drinks sales up 90% during the match on Sunday 14 July.
Those who visited pubs and bars were also spending longer out with average dwell time swelling to 3.3% in the four weeks to Saturday 6 July.
With regards to consumer spending, pubs, bars and clubs saw modest year-on-year growth in June of 0.5%.
Previous performance
This again was partly down to guests visiting venues to watch the football tournament outweighing the bad weather and keeping the category on par with its performance last June.
But for restaurants, the month was tougher with a 11.5% decline in consumer spending year on year.
This was an improvement, however on last month (down 15.7%), which Oxford Partnership said reflected on the selective approach cost-conscious consumers were taking to discretionary spending, choosing to spend less on eating out at restaurants.
