What do we mean by 'value for money'?

When I agreed to write this column late last year, I seriously wondered whether there would be a pub industry left to write about come February 2009.

Thankfully, the nay-sayers both within and outside the industry have been proven wrong and by common consensus trade over Christmas was better than expected, although still very challenging.

Despite the omnipresent doom and gloom in our 24-hour rolling media, people are still venturing out into what is, after all, Britain's favourite place to be — the pub — looking for a great value for money experience.

Recent visits to pubs have left me wondering whether our industry truly understands what value really means.

The first involved asking for three well-known beer brands, none of which were available. Instead I was offered a South American beer I'd never heard of costing over £3 per pint with the explanation that the pub was offering brands that couldn't be bought in a supermarket.

The second involved a visit to a regular family Sunday lunch haunt. Pretty much every dish had been cheapened and all garnishes removed. Everything seemed to have changed except the bill, which I noticed was at pre-VAT reduction prices!

Do we really think the road to recovery for the Great British pub is offering brands people don't know at inflated prices, and reducing the quality and perception

of value for money when people are tempted to spend their hard-earned cash?

I noticed with interest that McDonald's — yes McDonald's — posted 9% growth in January. In its most stripped-down form it offers an eating and drinking experience out of home — just like the pub, albeit a little more rushed and informal.

Several years ago it was leading the "own label" charge. Is it any coincidence that its success is helped by offering leading brands at affordable prices and focusing on value?

While there are some rocky roads ahead, we can learn from the experience of others in laying the foundations for future prosperity.

After all, your customers aren't stupid. While they may not complain to your face, it may well be a long time before you see them again.

Andy Slee is licensed trade director of Coca-Cola Enterprises.​