Maximizing sales during the ‘Summer of Sport’ 

Jon Boland
The Euros in Germany are underway. But how to make money from tournaments?

With UEFA Euro 2024 underway and the Paris Olympics on the horizon, fans are turning out en-masse to support their country’s teams during this Summer of Sport, traveling to competitions in person or joining local viewing events. This presents an opportunity for businesses, particularly retailers, pubs and restaurants, to increase sales as consumers look to engage with other fans over a drink and a meal and stock up on team gear.

Businesses looking to cater to sports fans and maximise potential revenue will benefit from user-friendly payment options, from being able to accept a wide range of cards and digital payments, to being able to present sales totals in multiple currencies to line busting with handheld devices. The right payment options can help accommodate increased crowds as they cater to fans’ expectations for speed and convenience.

Football = footfall

High profile sporting events can catalyse growth and spending. Having recently analysed our client base of tens of thousands of small and medium enterprises (SMEs) in the UK, we know that restaurants, bars, and sports merchandise stores have a lot to gain from the season.

Consumers want to be part of sporting experiences, with many watching the events in pubs or bars. Our data shows spending at pubs and restaurants was up 43% and 30% respectively during the last World Cup in 2022, compared to the same period in a non-World Cup year. And that was in the winter, when customers were less likely to venture outside.

On the retail side, spending at sports stores in the U.K. has already increased by 17% in May this year. We will likely see this trend continue as large-scale sporting events turn into mass buying events for retailers and the hospitality sector.

Enhance digital payments infrastructure

Business can prepare for increased footfall and transaction volumes with user-friendly payments systems that allow them to accept a wide range of payment types. Card acceptance is a must, and many customers are also likely to want to use digital wallets to pay, so businesses need to be ready to accept these options. Ideally, businesses catering to traveling fans will also be able to show transaction totals in the local and well as the traveler’s native currency, eliminating any confusion at the point of sale.

Fans don't want to spend their time waiting to pay, so businesses that may typically see customers queue up could consider handheld payment devices that allow them to line bust and accept payments anywhere on their premises.

In addition, self-service and contactless options will be key in reducing wait times and streamlining the payments process. Implementing user-friendly solutions like these will ensure that consumers spend less time waiting around at the payment terminal, and more time buying into the festivities.

Wider benefits

Scaling up payments infrastructure also helps with other preparations for the Summer of Sport. Merchants can optimise operational efficiency during busy periods. For example, modern point-of-sale (POS) systems can provide access to real-time sales updates that can streamline inventory management, enabling businesses to see exactly when they are running low on stock so they can order more before running out. Solutions like these not only prepare businesses for busier seasons, but also improve the general day-to-day running, empowering small businesses for growth.

The Summer of Sport presents timely opportunities for businesses, and utilising the right payment solutions can help them maximise revenue. From hardware and accessories for taking physical payments, to software that better enables sales online, the right technology enables businesses to mitigate the pain points that can be caused by increased demand. Accepting a wide range of payment options with systems that are easily scalable and user-friendly will help businesses meet consumer expectations and capitalise on the opportunities presented by the sporting wave. 

Written by
June 25, 2024
Written by
Jon Boland