Click on the banner to visit our new and improved consumer trends blog!

Tuesday, November 1, 2011

UPDATE: Up-selling the consumer

Observation:  Yesterday, I offered a post explaining that more consumers are ordering tap water when out-of-home dining, thus reducing the average ticket for some restaurants (see “Tap water” from 10/31/11).

As an apparent counter-point to that mindset, an article in today’s Marketing Daily suggests that the recreation industry is successfully regaining their pre-recession revenue-per-customer by adding food sales to their entertainment customers.  Click here to see that story.

Implications:   In addition to serving as an additional revenue stream, having food service options on-site coaxes the consumer to staying at the theme park, casino or museum longer.  (And longer time spent creates more opportunity for money to be spent.) 

There is an interesting contrast between yesterday’s post and the research offered in this Marketing Daily story.  Yesterday, we were talking about consumers who were cutting-back by not ordering a soft drink or coffee with their restaurant meal.  Today, we’re talking about consumers who add a meal to their recreation venue experience.

Can your company, product or service pursue add-on sales that businesses in other categories are losing?  Do you focus on just individual products or services that you sell… or do you consider bundling to enhance the overall customers experience for the people you serve?  While some folks will skip the drink to save money on a meal, those same folks will often rebuke the idea of discipline… and add-on when it comes to an experiential indulgence.

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.

No comments:

Post a Comment