The “Big Game” is a highly anticipated event for the food and beverage industry. Moneris spending data shows that spending is up across the sector, including an increase of 30% at bars, compared to the same event last year.
In February 2022, COVID-19 restrictions were slowly lifting, and provinces like Ontario were beginning to ease public health measures. Watching football in indoor establishment spaces like restaurants and bars hadn’t picked back up like we’re seeing now. This year, the Big Game brought a rise of 30% in consumer spending at bars, while restaurants saw a 17% increase over last year. But it was takeout that showed the most significant spending increase. Are people preferring to order in or get takeout instead?
Data from UEAT, Moneris' online ordering solution for restaurants, shows an uptick in delivery and takeout during significant events and suggests a trend that these are some key opportunities for restaurants to capitalize on.
Let’s look at some of this year's Big Game night highlights:
• Takeout orders increased by over 40% week-over-week
• Delivery orders increased by almost 10%
The Big Game isn't the only event that saw increased consumer spending. Similar data from a recent look at Valentine’s Day spending showed takeout had the highest year-over-year spending increase, with volume up 35%. These increases are likely because couples often go out for drinks or spend the evening at a bar instead of a restaurant. Based on week-over-week data for Valentine’s Day last year, we saw that takeout orders nearly tripled and went up almost 200%, while delivery orders jumped over 80%.
This data highlights the importance of takeout for independent restaurants, especially during mainstream events. Takeout is not only convenient for customers who choose to stay at home, but it also encourages them to visit local restaurants and discover hidden gems. By taking advantage of these opportunities, businesses can increase their revenue and attract new customers.
For restaurant owners looking to leverage popular events to increase revenue, curating menu items or offering game night deals can help you increase orders.
The Big Game and other major sporting events can significantly impact the restaurant industry and provide businesses with an opportunity to enhance the game night experience for fans coming out to cheer for their favourite teams. Understanding consumer behaviour during these events can empower your business to leverage these insights and increase profits at the next big event.
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