31st of August 2020 marked the end of UK's first-of-its-kind “Eat Out to Help Out” policy, which incentivised diners to eat out at restaurants left vacant during the pandemic. In partnership with Moneyhub, Lumio has analysed August spending data that offers glimpses into the real world impact.
What was Eat Out to Help Out?
The UK government paid 50% of the bill - up to £10 pp - for people to eat out on Mondays, Tuesdays, and Wednesdays, from the 3rd to the 31st of August.
Why? Chancellor Rishi Sunak wheeled out the scheme to support 1.8 million hospitality sector workers. A sector that saw output tumble 87% between April and June. Wallop. Did it work? People ❤️ a deal. Manic Monday’s.... Diners spent up to 6x more on Mondays than on weekends.
Bookings were up +31% annually (compared to +21% in Germany and -49% in the US, according to OpenTable.
Many behavioural scientists and economists would argue success is more than just the numbers, it’s in the mind.
38% of the people who asked Rishi to pick up the bill said it was the first time they ate out since restaurant reopened. But we’ll get the full bill soon and it is estimated to cost the UK government around £500m+ in total.
Going forward... Many restaurants face an impending doom with a second wave brewing, colder weather, deferred rent payments landing, and capacity limits. But many restauranteurs found the “Eat Out to Help Out” scheme such a boost that they’re going to pick up part of bill themselves going forward.
Discounts still on: London
Emilia's Crafted Pasta
AQUA Kyoto / Shard
Gaucho and more...
Discounts still on: Bristol
King Street Brew House
The Coconut Tree
The Ox H
arbour & Browns and more...