5 ways to maximise revenue this New Year’s Eve
New Year’s Eve is set to be a quieter affair for many this year – but that doesn’t mean people don’t want to mark the occasion and celebrate with loved ones. There’s still plenty of opportunity to create revenue this New Year’s Eve.
Here are our top 5 tips…
1. Make sure you’re well equipped to tempt any last minute bookings
Many people are still on the fence about their plans, particularly when commitments may involve heavy deposits or cancellation fees.
Sharing snippets of your New Year’s Eve menus, drinks and décor on social media is a great way to give your customers a taste of what you’re offering, and tempt those who are on the fence.
2. Safety and cleanliness is still absolutely crucial
With the pandemic still ongoing, and new variants of coronavirus emerging, we’re not quite out of the woods just yet.
New Year’s Eve is typically a busy, lively occasion with lots of social contact.
Reassure cautious consumers of your hygiene and social distancing policies, maintain good hygiene practices, or perhaps consider having some quieter dining times earlier in the evening.
3. Hit the mark with your menu to encourage higher spend
Cost-conscious consumers want to see something that feels worth spending their money on. 6 in 10 people now like visiting venues that offer new and interesting cuisines, and 1 in 4 are inclined to order a dessert that is new and exciting*.
Give your New Year’s Eve menu the ‘wow factor’ by adding some truly decadent and instagrammable desserts or introducing some less familiar cuisines. See our 2022 Trends for inspiration.
4. Add some entertainment and don’t forget the atmosphere!
People dining out on New Year’s Eve will want it to feel like a special occasion. Simple touches like background music and festive décor can go a long way.
Plus, whether it’s live music, a fun photo booth, live cooking or some theatrical cocktail making… adding some entertainment to the evening can be a real hit with your customers.
Not only could it encourage more bookings by those keen to celebrate, but it can give you scope to charge premium prices.
Plus, it’s likely to encourage customers to stay at your venue for longer – and spend more!
5. Not everybody wants to go out this New Year’s Eve
For many, it’s set to be a night at home with loved ones. 56% of UK adults said they want a quiet New Year’s Eve this year.
But that means there’s a big opportunity for takeaway and delivery.
Consider offering special menus with premium options to encourage higher spend, and you could pair them with festive drinks packages.
Encourage pre-ordering where possible, particularly with ongoing supply issues continuing to be a challenge. You could incentivise pre-orders by offering a free drink or side dish with certain meals.
Restaurant home kits can be another great option to make a night in feel more special. You could make them more exciting or unique for New Year’s Eve by adding a ‘golden ticket’ prize draw, or adding a fun game or a link to a live cook-along.
Your customers are more likely to be willing to pay a premium if they’re getting something a bit different that will add to their night.
So, whether consumers are looking for a quiet New Year’s Eve, or wanting to go all out and make this year extra special, there are plenty of ways you can make sure you’re the venue of choice, maximise your revenue and help make your customers’ night truly special.
*CGA and Bidfood bespoke consumer research September 2021