Sep 8, 2016
Brexit and Global Foodservice
There's a lot going on in the U.S. these days that is drawing the attention of Americans and generally dumbing them down to world affairs. I mean, what could be more important than Ryan Lochte's future endorsement deals? So when you mention Brexit to a typical American you might get a confused look...maybe they'll say something like "wasn't that the Donald Trump thing in some foreign country?"...or they'll say "when was that?".
Any non-American would describe this response as being "very American," which is never a good thing.
Europeans (and Brits) know that there has been no Brexit. There was just a vote and there will be many months (kindly) of difficult negotiations to go through before there is an exit agreement. And before that there will be months of posturing.
That doesn't stop people from asking how Brexit is affecting the foodservice market in Great Britain.
It's not…or rather it hasn't yet.
According to our SalesTrack® Weekly report, which tracks same store sales for a group of the largest chains in the England, the market has held remarkably steady in the weeks following the vote.
The British market was the strongest global market in Q2 2016 tracked by NPD’s CREST® foodservice market research. Now, however, our NPD analyst in Great Britain tells us that consumer confidence is faltering. It is likely that we will see a negative impact once something actually happens. In the meantime, things have been pretty much OK.