How to prepare your business for big events and high-traffic crowds this summer

When a can’t-miss concert tour rolled through Canada recently, the economic impact extended far beyond the arenas. The show generated nearly half a billion dollars in economic spinoff, with much of that spending flowing to hotels, restaurants, shops and service providers across the neighbourhoods of the cities it visited. 

Is it any wonder these large-scale events create so much hype? For a few days or weeks, the whole rhythm of a host city changes, drawing in people from all over and creating a significant opportunity for local businesses. A single weekend can quickly become one of the busiest stretches of the year.

Making the most of that demand takes planning. For retailers, restaurateurs and service providers, a little preparation ahead of time can go a long way once the crowds arrive. When payments move quickly, appointments run on time, shelves stay stocked and enough staff are scheduled, busy days feel a lot more manageable.

Here are five ways to help you prepare your business for a big event.

Understand event demographics

Before you start preparing, it helps to understand who’s coming and how they are likely to spend. Big events tend to bring in people who are not just there for the main attraction. They are grabbing meals, shopping, booking services and looking for ways to make a trip feel memorable.

That recent concert tour offered a good reminder of how much that can add up, with 70 to 90 percent of direct spending tied to out-of-town visitors.

Not every event brings the same kind of opportunity. A stadium concert filled with tens of thousands of excited fans is very different from a multi-day convention of professionals, so think about where visitors are likely to stay, when and how they will flow through your area and what they may be looking for. The better you understand the event ahead, the better prepared you’ll be to handle the demand.

Optimize your checkout for high-traffic crowds

A quick checkout process keeps momentum going, and it matters even more during a large-scale event. Crowds heading to or from a major activity are often on a tight clock, grabbing a quick bite, picking up a last-minute t-shirt or fitting in a quick nail touch-up between plans. That can shape how and where they spend, with speed and convenience often winning out over a more complicated experience.

Customers increasingly expect flexibility and ease when it comes to payment, whether that means tapping a card, paying with a digital wallet or using a gift card. Having systems in place that make checkout feel quick and seamless can help keep things moving when traffic picks up. If you take bookings, online reservation tools can also help keep appointments running smoothly, so new customers get only the best experience—even if it’s quick.

Optimize inventory for high-demand events

When demand picks up, it helps to know what tends to move fastest. For retailers, that may be best sellers or higher-margin items. For restaurants, it could mean ingredients for popular menu items. For service providers, it may be products tied to appointments or add-on services that tend to move quickly.

Running out at the wrong moment can mean missed sales, and even a dreaded negative review. One survey found that about two in five shoppers will leave a store empty-handed if the item they came for is not available.

Having sales data at your fingertips can help. Looking back at your busiest days, top-selling products and peak hours can offer useful clues about what to stock, when to reorder and where demand is likely to show up. Inventory and reporting tools tied to your POS system can help you keep an eye on what’s selling in real time, while ordering a little earlier than usual can help avoid headaches if suppliers get busier, too.

Use scheduling tools for smarter staffing

One of the biggest challenges on a high-demand business day is having the right number of people on at the right times. Start by looking at when you’re likely to be busiest and where pressure points may show up, whether that’s a pre-event rush, longer lineups or back-to-back appointments.

Scheduling tools tied to sales patterns can help build shifts around those busy windows, so you’re better prepared when traffic picks up without overstaffing quieter periods. These cloud-based tools make it easier to keep an eye on labour costs and make adjustments if plans change, even when you are away from the office.

Turn first-time visitors into repeat customers

Don’t forget: The crowds may leave, but the opportunity doesn’t have to.

Major events can create benefits that last long after they’re over. Research tied to one large-scale event in Canada found tourism and business activity in the city and region continued well after the final day, helping generate hundreds of millions of dollars in economic activity in the following years.

For small businesses, the ultimate goal is to turn a first-time visitor into a repeat customer. Someone who signs up for your loyalty program, joins your email list or follows you on social may come back long after the event ends. That matters because, according to Harvard Business Review, acquiring a new customer can cost five to 25 times more than retaining one you already have. Meanwhile, loyalty programs can help reward returning customers and give people a reason to come back after a positive first experience. One survey found that loyal customers shop more frequently and spend around 60 percent more per visit than those who haven’t signed up to a program.

The bottom line

Big events don’t come around every day. When they do, it’s a lot easier to take advantage of the rush when you’re ready for it.

How can we help?

If you want to learn more about how Clover can help you accept payments, run your business and sell more, please contact your Clover Business Consultant. You can also follow us on Facebook and Instagram