Open bar: Rising consumer spending and demand for specialty cocktails will drive industry growth
Bars & Nightclubs in California
The Bars and Nightclubs industry in California has expanded over the five years to 2017. The industry in California has benefitted from strengthening economic activity, indicated by the increase in consumer spending in California. An increase in consumer spending signals growth in spending on discretionary purchases and activities, such as alcohol purchases from bars and nightclub admissions. Most of industry revenue is composed of the sale of alcoholic beverages. Over the five years to 2022, consumer spending is anticipated to grow, encouraging consumers to make more discretionary purchases and boosting foot traffic into bars and nightclubs. However, operators will continue to face strong competition from other industry operators and off-premise consumption options. The industry is expected to remain fragmented over the period. In addition, operators may face regulatory change within the next five years that can negatively impact their revenue.
This industry includes bars, taverns, pubs, lounges, nightclubs and other drinking places that primarily prepare and serve alcoholic beverages for immediate consumption. These establishments may also provide limited food services.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
