Can the World Cup boost the hospitality trade’s fortunes this winter?
16 November 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 and leisure industries, as lockdowns were lifted and restrictions eased. Instead, we entered yet another turbulent year, with Brexit, the war in Ukraine and ongoing political issues resulting in the current cost-of-living crisis that has engulfed the UK.
And while these tough economic conditions look certain to last for some time yet, there is potentially some light at the end of the tunnel in the form of the Qatar World Cup.
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 86% of Brits planning to watch the matches with family and friends (according to new research from growth marketing company DCMN), which means splashing out on drinks and food, whether in the comfort of their own home, or down their local pub or restaurant.
With Christmas spending and footfall in our high streets already predicted to be lower than normal this festive season, thanks to money worries across the UK 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.
New research from HeyDiscount suggests that British consumers could spend £91 million on pints if England make it to the World Cup Final, and while football history might suggest that’s a tall order, England’s victory in the Women’s Euros final earlier this year and reaching second place in the Men’s Euro’s final last year means hopes are still high as we enter this crucial tournament.
Add to this the season of festive cheer that coincides with this year’s World Cup and it could mean a very healthy festive period is on the horizon for pubs, bars and restaurants that offer customers what they want. In a recent survey conducted by Heineken UK, 48% of respondents said they would be more likely to watch matches at the pub, and with energy prices still rising, it might well be cheaper to watch matches at the pub than at home, meaning that figure could be even higher.
Getting prepared for a spending increase
While most pubs 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 footie-themed menu, they should also be thinking about how an increase in spending will impact the daily operation of their establishments.
Research from the Bank of England last month showed that since the cost-of-living crisis began, more and more people in the UK 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 pubs 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 pubs 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 notes.
Our CountEasy 2 money counting scale is the obvious choice for busy public houses and eateries, and is already used by both Mitchells & Butlers’ and Marston’s PLC, who run well over 3,500 pubs and restaurants across the UK. 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.
Ian Gosling from Mitchells and Butlers said: “We have been buying Volumatic CountEasy cash counters for some years now. The units are reliable, easy to use and therefore no training is required. I would be more than happy to recommend them.”
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 Mitchells and Butlers and Marston’s 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 festive season ahead.”
The CountEasy range also includes the CountEasy IP version with an integrated printer and the CountEasy TS version with a touchscreen.