Business Sentiment and Performance in Q4 2023
The business sentiment and performance for Q4 2023 reveals a mix of positive outlook and concerns, with insights on overall performance, pricing strategies, challenges faced, and advanced bookings uncertainties for 2024. Key findings indicate a focus on cost of living, increased prices, and various business operational adjustments.
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Presentation Transcript
Business sentiment Q4 2023
Key Findings Business performance When asked about overall business performance in Q4 2023 compared to the same quarter in the previous year the outlook was positive, with 51% of businesses stating that their overall performance was either much better or a little better than that of Q4 2022. A further 21% reported that their overall performance in Q4 2023 was the same as the same quarter the previous year. That said the same businesses still highlighted concerns about the cost of living and increased prices. 51% of businesses stated that the current state of the UK economy is having a negative impact on their business.
Key Findings Business performance 64% of businesses have increased their prices in the last 6 months. 64% of businesses surveyed suggested that they will be increasing their prices further over the next 6 months, the average price increase is expected to be 10%. When asked about the challenges that the businesses faced in Q4 2023 , the cost-of-living crisis, increased costs and the weather were the main emerging themes. 58% of businesses stated that had cut costs within the business, with a further 33% suggesting that investments had been delayed or cancelled, however 39% of business have increased staff wages and or bonuses.
Key Findings Advanced bookings Advanced bookings are still uncertain for 2024. Please indicate how your advanced bookings/sales are looking for each of the following months: Very good Good Just OK Poor Very poorDon't know 15% 12% 6% 6% 3% 12% 12% 15% March 2024 April 2024 May 2024 June 2024 July 2024 August 2024 September 2024 October 2024 6% 6% 6% 6% 3% 3% 9% 0% 18% 15% 24% 21% 15% 12% 9% 12% 21% 36% 27% 27% 24% 18% 12% 18% 21% 12% 18% 15% 27% 24% 27% 24% 18% 18% 18% 24% 27% 30% 30% 30%
Key Findings Guests & visitors 51% of businesses surveyed said visitor/guest numbers were either up or the same as the same period the previous year. 63% of the businesses surveyed stated that their levels of domestic visitors were either up or the same when compared to that of the same quarter the previous year. Confidence in international visitors was high with 55% of the businesses surveyed stating that their level of international visitors was up or the same as the same period last year, compared with 15% saying numbers were lower and 30% were unsure. 58% of business said that up to 75% of all bookings were taken online.
Q1: Which of the following best describes your business? Answered: 33 Skipped: 0 Self-catering accommodation provider Hotel B&B / Guest House Holiday Park (Lodges) Camping and/or Caravan Site Attraction Activity / Experience Provider Caf , Bar or Restaurant Retail Cinema Festival Artist/Producer Heritage Site/Activity Cultural Venue (Museum, Theatre, Gallery, Cinema etc) 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Q2: Please indicate which local authority area your business is located in. Answered: 33 Skipped: 0 Amber Valley Borough Council Bolsover District Council Cheshire East Council Chesterfield Borough Council Derbyshire Dales District Council Derby City Council Erewash Borough Council High Peak Borough Council North East Derbyshire District Council South Derbyshire District Council Staffordshire Moorlands District Council Sheffield City Region 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Q3: Including yourself, how many people are employed by your business? Answered: 33 Skipped: 0 1 2 10 11 20 21 30 31 50 51 100 101 250 251 + 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Q4: How do you perceive the current state of the visitor economy / tourism industry in our region? Answered: 33 Skipped: 0 Very positive Positive Neutral Negatively Very negatively 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Q6: To what extent do you believe that the current state of the UK economy is impacting your businesses performance? Answered: 33 Skipped: 0 Very positive Positive Neutral Negatively Very negatively 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Q8: Compared to quarter 4 (Oct - Dec) last year, how are your visitor/guest numbers? Answered: 33 Skipped: 0 Up Slightly up Exactly the same Slightly down Down 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Q9: Compared to quarter 4 (Oct - Dec) last year, how is your overall business performance? Answered: 33 Skipped: 0 Much better A little better About the same A little worse Much worse Don t know 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Q11: How confident are you in the performance of your business for the period for quarter 4 (October - December) 2023? Answered: 33 Skipped: 0 Very confident Fairly confident Not very confident Not at all confident Don t know 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Q12: Please indicate how your advanced bookings/sales are looking for each of the following months: Answered: 33 Skipped: 0 January 2024 February 2024 March 2024 April 2024 May 2024 June 2024 July 2024 August 2024 September 2024 October 2024 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Very good Good Just OK Poor Very poor Don't know
Q13: If you are an accommodation provider what is the average length of stay of your guests? Answered: 33 Skipped: 0 1 2 nights 3-4 nights 7 nights More than 7 nights I am not an accommodation provider 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Q14: Please tell us how your levels of domestic (UK) guests/visitors in quarter 4 (Q4) (Oct - Dec) 2023 as a whole compared with quarter 4 (Q4) (Oct - Dec) 2022: Answered: 33 Skipped: 0 Up The same Lower than Don t know 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Q15: Please tell us how your levels of overseas guests/visitors in quarter 4 (Q4)(Oct - Dec) 2023 as a whole compared with quarter 4 (Q4) (Oct - Dec) 2022: Answered: 33 Skipped: 0 Up The same Lower than Don t know 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Q16: Please tell us where your visitors have travelled from in quarter 4 (Oct - Dec) 2023? (Please tick all that apply) Answered: 33 Skipped: 0 UK Europe USA Don t know Other (please specify) 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Q18: What proportion of your bookings/sales are currently made online? Answered: 33 Skipped: 0 None 1-25% 26-50% 51-75% 76-99% 100% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Q19: Have you been directly or indirectly affected by any flooding? Answered: 33 Skipped: 0 Yes No 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Q21: Which of the following has your business done in the last 6 months? (Please tick all that apply) Answered: 33 Skipped: 0 None of the above Increased prices of products or services Cut costs within the businesses Delayed or cancelled planned investments Frozen wages/and or reduced or cancelled bonuses Increased wages / and or increased bonuses Employed additional staff Progressed planned investments / projects Other (please specify) 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Q22: Over the next 6 months how likely is your business to raise its prices? Answered: 33 Skipped: 0 Very likely Fairly likely Not very likely Not at all likely Don t know 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Q23: How much do you expect that your prices to increase by? Answered: 33 Skipped: 0 10 0 10 20 30 40 50 60 70 80 90 100
Q24: What is the main mode of transport for your visitors? Answered: 33 Skipped: 0 Own car Hire car Train Plane Boat/Ship/Ferry Bus Coach Other please state 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Q26: Which of the following business support activities would you be interested in if it were to be offered to you through Visit Peak District & Derbyshire (Please tick all that applies) Answered: 33 Skipped: 0 None of the above Social media workshops Season opener / leaflet swap event Networking events Accessibility workshops (ie how to make your business How to green your business / sustainability workshops Help with marketing of your business (ie Through Help with recruitment Annual tourism conference Annual tourism awards How to do your own PR workshops How to make your business cycling and walking friendly Industry updates and advice surgeries from the Visit Peak 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Q27: What do you value/like being a member of VPDD? (Please tick all that apply) Answered: 33 Skipped: 0 None of the above / I am not currently a VPDD member Business support Members trips Access to information about grants when available Access to industry information research and data Networking events/workshops Tourism Conference Member of team at end of phone when advice needed Other (please specify) 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Q29: Which of the following organisations are you currently a member of? (Please tick all that apply) Answered: 33 Skipped: 0 The Professional Association of Self-Caterers (PASC UK) The East Midlands Chamber of Commerce The Tourism Alliance Institute of Travel & Tourism The Tourism Society UK Inbound European Tourism Association Other (please specify) 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Q30: Which of the following methods do you use to access information from Visit Peak District & Derbyshire? (Please tick all that apply) Answered: 33 Skipped: 0 Industry Newsletter Industry web site (via www.visitpeakdistrict.com/industry) Facebook Instagram Direct email from VPDD team Linkedin Other (please specify) 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
