According to a Recent Study/Survey … Mid-March 2018 Edition

by MRM STAFF 3.16.201827 Min Read

This edition of Modern Restaurant Management (MRM) magazine’s “According to …” research roundup  offers St. Patrick’s Day and March Madness research as well as hot chili toppings brand intimacy and gender balance in hospitality.

St Patrick’s Day: Good for Bars, Not Restaurants

Here are a few interesting data points from the experts at CAKE.

Data confirms St. Patrick’s Day is a holiday for bars, not restaurants:

Transactions

  • In 2017, the average number of bar transactions was 43 percent higher on St. Patrick’s Day (March 17) compared with the Friday prior (March 10). The average number of transactions fell by 30 percent on the following Friday (March 24).
  • On the other hand, restaurants saw only a 7 percent rise in number of transactions on St. Patrick’s Day (March 17), compared to the previous Friday (March 10).

Revenue

  • In 2017, average bar sales saw a 33 percent increase (compared to the previous Friday) on St. Patrick’s Day and average sales jumped over $1,000.
  • Restaurants experienced minimal sales increase (compared to the previous Friday) of 7 percent.

St. Patrick’s Day Sales Climb YOY:

From 2016 to 2017, Bars saw a 30 percent increase in average transactions on St. Patrick’s Day, and a 40 percent increase in average sales. Average ticket size rose by 8 percent between the two years.

Although average transactions and sales are markedly lower for restaurants on St. Patrick’s Day when compared with bars, restaurants still saw a YOY increase in both categories on the holiday. Average transactions rose by 15 percent and average sales rose by 39 percent.

As evidenced by the findings above (and not surprisingly!) the majority of customers are flocking to bars to celebrate the holiday. This presents a great opportunity for restaurant owners to offer themed food and drink specials to drum up extra business, according to Cake