For consumers, attending a rock concert, pro sporting event, or music festival can be the experience of a lifetime. Seeing a favorite band perform live or a much-loved team up close and personal offers fans a much richer experience than watching at home.
It can also be a golden opportunity for merchants wanting to capitalize on fan affection by offering souvenirs, food and beverage service, and other amenities during live events. But it hasn’t always been so easy for these business owners to find a fast, easy, and reliable way for event-goers to pay.
That’s why many event organizers and sellers are turning to mobile point-of-sale solutions. These versatile systems give merchants an avenue for increased sales and revenue by accepting credit and debit cards and mobile wallets. Take a look at three ways that mobile point of sale is transforming live events:
1. Get patrons back to the show
As the survey of sports fans discovered, long lines can be a deal breaker. Patrons come away from the event dissatisfied, while venue owners and merchants lose likely sales. But mobile point-of-sale systems can help solve these problems.
Two technologies already in place at professional sporting events include in-seat mobile ordering and mobile point of sale for vendors.
Fans of the NBA’s Cleveland Cavaliers now use smartphones to order and pay for food, drinks, and branded merchandise delivered directly to their seats during games. Already in use by 25 percent of attendees, in-seat orders are netting $32 per capita from food and beverages.
At the American Airlines Center in Dallas, servers carry Wi-Fi-enabled tablets capable of taking orders and accepting payments anywhere in the venue. These mobile devices also give fans the option of making contactless NFC payments and using the Apple Pay mobile wallet.
2. Boost revenue with speed and convenience
If wait times were cut in half, American fans, on average, say they’d spend $20 above their current level on food and beverages. That’s a 43 percent increase in the normal per-person outlay at each event.
Mobile ordering also shows that the convenience factor often drives more sales and overrides price concerns for fans at live events. When event-goers don’t have to leave their seats or have the option of ordering and paying via mobile app with express pick-up, both order volume and spend per order go up.
3. Tap into consumer preferences
While mobile point-of-sale apps like the one used by the Cleveland Cavaliers look like consumer-focused payment devices, they also capture data on individual preferences. Managers and vendors can access a real-time feed showing when and how often fans are using the app during the event.
The software also tracks spending and food and beverage preferences for each user. Marketers can more easily upsell and cross-sell based on previous purchases.
With more organizers turning to mobile point of sale at live events, good things are happening for both fans and merchants.
How are your clients using mobile point-of-sale solutions at live events?