FSM
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Fan Experience vs Profit How Do Stadium Caterers Find The Balance?
Increased sales, improved fan experience and lower costs - how do stadium caterers achieve the ‘impossible’? Adam King, CEO of Swipestation explores.
At last, the stadium industry has a clear picture of what the ‘new normal’ looks like. All restrictions have been lifted and covid has joined the list of everyday illnesses. Turnstiles are revolving once again and fans have returned in their droves - with money to spend on a great day out. While this is great news for the industry, it does come with pressures: how can stadiums maximise the potential of these customers while giving them the experience they deserve? Add into this the ongoing increases in living costs, stadiums must rise above the other draws on the customers' hard-earned money and provide a best-in-class experience.
The commercial value of converting a casual supporter into a die-hard fan is significant, and vital to the survival of the industry. From the moment they enter to the moment they leave, fans expect a positive experience that goes way beyond the final score.
For all but the most elite clubs every revenue stream counts, and food & beverage on match days are a vital income. However, many venues struggle
to service all their fans - finding
themselves unable to provide the matchday experience they aspire to - especially in older stadiums that have narrower concourses and smaller bars. They don’t run out of customers… they run out of time.
The accelerated move to cashless stadiums
Consumers are now perfectly happy not carrying cash. The pandemic proved that even the most habitual stadium attendee will make changes when the need arises, and the stadium industry finally got to join the rest of the world in embracing cashless technology. Even the cash-rich environment of racecourses have made the change in their food and beverage kiosks. The benefits in loss prevention, handling and speed of transaction are well documented. Covid just expedited the inevitable switch.
However, this seismic shift is not without its reverberations: while the actual process of tapping a card or phone is quicker than the exchange of cash, the EPOS systems that accompany the card readers are designed for everyday use. They are far more complex and require extensive training - not easy when most servers are casual employees working their first shift.
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