Will the World Cup boost bar and restaurant trade this winter?
November 17, 2022
After a pandemic spanning nearly two years, the start of 2022 was supposed to bring with it a much-needed boost for retailers and those in the hospitality industry, as lockdowns were lifted and restrictions eased. Instead, we entered yet another turbulent year, with tough economic conditions that look certain to last for some time. But, there is potentially some light at the end of the tunnel in the form of the upcoming World Cup, which kicks off this Sunday.
Moved from its usual summertime slot, this year’s World Cup could provide an extra boost to businesses on the run up to Christmas, with 45% of sports fans in the U.S. planning to watch the soccer matches with family and friends (according to a global survey from Altman Solon), which means splashing out on drinks and food, whether in the comfort of their own home, or down their local sports bar or restaurant.
With Christmas spending and footfall already predicted to be lower than normal this holiday season, thanks to money worries across the US and consumers tightening their belts accordingly, many businesses - particularly those in the hospitality trade - have another opportunity with the World Cup to boost their profits, with thirsty Americans looking certain to be upping their spend on beer - especially if the USA team make it to the World Cup Final - and while soccer history might suggest that’s a tall order, hopes are still high as we enter this crucial tournament. Add to this the holiday season that coincides with this year’s World Cup and it could mean a very healthy festive period is on the horizon for bars and restaurants that offer customers what they want.
Getting prepared for a spending increase
While most bars and restaurants gearing up for this kind of global sporting event will already have invested in wide screen TVs and comfy sofas, as well as a soccer-themed menu, they should also be thinking about how an increase in spending will impact the daily operation of their establishments.
As more consumers try to save money, more and more people across the globe are turning back to cash to help them budget. Even younger people have been demonstrating the use of ‘cash folders’ in TikTok videos, showing how to save cash for different expenditure, so bars and restaurants need to be prepared to accept more cash and also be prepared for how to handle it securely and process it correctly.
The Volumatic Solution
With bars potentially bursting at the seams, the last thing anyone in this industry needs is to worry about manual cash counting, and that’s where Volumatic can help.
We offer a range of innovative cash handling solutions that can reduce manual processes from hours to minutes and additional security for large volumes of bills.
Our CountEasy 2 money counting scale is the obvious choice for busy bars and eateries, and is already used by many bars and restaurants across the globe with great success. The CountEasy 2 offers 100% accurate cash counting and can count a till drawer in under a minute, resulting in huge time savings for hospitality staff when it comes to daily reconciliation. The CountEasy 2 is also lightweight and portable, meaning that cash counting can be done anywhere, plus its software records counts and is perfect for daily reporting purposes.
Volumatic’s Sales and Marketing Director Mike Severs added: “Our best-selling CountEasy range is so popular for a reason – it reduces the time spent counting a till drawer to less than a minute and it is so easy to use, requiring hardly any training. As many of our customers can attest to, the CountEasy 2, which was upgraded this summer, really can help those in the hospitality trade become more efficient and save money during the busy World Cup period and the holiday season ahead.”
The CountEasy range also includes the CountEasy IP version with an integrated printer and the CountEasy TS version with a touchscreen.