Crunch Time For Nightclubs?
Many businesses all over the UK have been affected by the credit crunch; this includes the unlikely victim of nightclubs all over the country. One in eight nightclubs has had to close their doors to punters during the past year, the general public seem to have opted for late night pubs and other sources of entertainment rather than the traditional nightclub. According to the market research company Minel, 355 nightspots have shut in the last year, this is a total of 13% of the country’s 2,722 hotspots. This figure amounts to on average, a staggering six venues a week. Many reasons have been put forward to conclude why this decrease has occurred. Jonny Forsythe, of Mintel stated that ‘Customers, especially the core of 18 to 24 year-olds, have less money to spend. If young people do decide to go out, they are more likely to stay drinking in pubs late at night’. Other reasons include the smoking-ban, which has encouraged individuals to drink at home or in bars where there are vast smoking areas alongside a club-like atmosphere. Supermarkets have also been blamed for the closures as they are providing a cheap alternative of cut-price booze and cheap deals which appeal to the younger generation more than ever.
Source: “Lights Go Out In Clubs” – Metro (19/07/2010)