Montreal, Oct. 19, 2023 (GLOBE NEWSWIRE) — Lightspeed Commerce Inc. (NYSE | TSX: LSPD) launched new knowledge* displaying that final 12 months’s Monday evening Halloween gave an enormous increase to bar and takeout gross sales. The numbers, that are based mostly on a pattern of 1000’s of eating places and bars powered by Lightspeed throughout North America, counsel a busy Halloween Tuesday could also be on the horizon this 12 months.
Powering the world’s finest companies, Lightspeed is the unified POS and funds platform for bold entrepreneurs to speed up progress, present the most effective buyer experiences and change into a go-to vacation spot of their house.
Listed below are some key findings.
- La-La Land loves Halloween. Bars in Los Angeles had been busy on Halloween evening. They noticed a 107% improve in gross sales in comparison with the earlier Monday. Jacksonville got here in second with a 65% soar from one week to the subsequent. Brooklyn closes out the highest three with a 46% bump.
- Coming in on the different finish of the spectrum had been Columbus, Key West and Minneapolis, the place bars noticed the sharpest decline in gross sales. Lightspeed knowledge reveals a 46% drop in Columbus and Key West, whereas Minneapolis noticed a 49% hunch in bar tabs.
- When Halloween is on a weekday, takeout orders surge. On Halloween, eating places throughout all classes—quick informal, informal, upscale or fantastic eating—noticed an 11.37% improve in takeout gross sales in comparison with the earlier Monday. As October 31 lands on a Tuesday this 12 months, eating places can plan forward to take advantage of this takeout bump.
- Pictures and blended drinks are the “boos” of alternative. In bars throughout North America, spirit gross sales grew by 68% on Halloween evening 2022 in comparison with the prior week. Cocktail gross sales noticed a 34% high up, whereas wine gross sales decreased by 17%. Whereas bars that plan to remain open on Halloween evening can keep forward of the curve by stocking up on the exhausting stuff, it seems many shoppers nonetheless concern spilling wine on their costume.
- Throughout the USA, pumpkin nonetheless reigns supreme within the spooky season. It’s particularly beloved within the Northeast, the place gross sales of pumpkin associated objects grew by 3,164% in October in comparison with July. Within the South, gross sales of pumpkin items surged by 2,824% in comparison with a 1,737% hike within the Midwest and a 1,216% improve on the West Coast.
- In a very pronounced case of pumpkin appreciation, Portland, Maine noticed a whopping 46,275% improve in gross sales of pumpkin associated objects in October in comparison with July.
The info possible comes as no shock to bars and quick informal eating places, who’re prepping for a Halloween spike with occasions, promotions and elevated employees. “We’re prepared for it,” says Rohit Sharma, Basic Supervisor and Operations Companion at Bar 404, a speakeasy in downtown Toronto. “There shall be plenty of company coming on the identical time, [and we] wish to make certain now we have extra hosts to accommodate [everyone].” Sharma additionally encourages workers to get in on the enjoyable, creating seasonal cocktails and carrying costumes to work.
Chatting with the uptick in enterprise on Halloween evening, Peter Dougherty, Basic Supervisor of Hospitality at Lightspeed Commerce, acknowledged that it’s at all times been a well-liked vacation for bar-goers. “If final 12 months’s numbers are any indication, restaurant and bar managers who’re open for enterprise on Tuesday nights ought to make certain they’re correctly staffed on October 31. What’s particularly attention-grabbing for bars is how a lot of the ticket improve is pushed by spirits and cocktails, with beer gross sales solely rising barely, once we’ve seen off-premise gross sales primarily pushed by beer.” General Dougherty sees the information as a possibility for hospitality companies. “With Halloween and the return of pumpkin season, our prospects can actually flex their creativity. We’re seeing some superb menu objects,” he notes. “I’m not simply speaking about baked items. We’re seeing pumpkin horchata, pumpkin espresso martinis and an enormous quantity of advanced, spiced beers—it’s unimaginable.”
Lightspeed’s Superior Insights will help bars and eating places anticipate busy nights. It identifies essentially the most worthwhile hours and best-selling menu objects so managers can optimize scheduling and menu planning.
Lightspeed powers the world’s finest bars, together with: Demise & Co (Los Angeles), Mace (New York), Katana Kitten (New York), Service Bar (Washington, DC), Recess (Chicago), Collective Arts (Hamilton), Vin Mon Lapin (Montreal), Cloakroom (Montreal), David Rocco Bar Aperitivo (Toronto), Cubitt Home (London), Perhaps Sammy (Sydney), Sunshine Brewery (Gisborne) and In den Ouden Vogelstruys (Maastricht).
Dive into the transformative options of Lightspeed Restaurant on our web site, or to witness its highly effective capabilities, see lightspeedhq.com/pos/restaurant.
*Methodology
Lightspeed analyzed inside knowledge from 1000’s of hospitality companies powered by Lightspeed Restaurant throughout North America. The evaluation reviewed test measurement and different knowledge factors throughout cohorts of bars, informal, fantastic eating, upscale and quick informal hospitality companies. Specifically, Lightspeed targeted on numerous gross sales modifications from one Monday to the subsequent when Halloween itself. As well as, when analyzing pumpkin developments, Lightspeed in contrast knowledge from July 1, 2022 to October 31, 2022.
About Lightspeed
Powering the companies which can be the spine of the worldwide economic system, Lightspeed’s one-stop commerce platform helps retailers innovate to simplify, scale and supply distinctive buyer experiences. Our cloud commerce resolution transforms and unifies on-line and bodily operations, multichannel gross sales, enlargement to new areas, world funds, monetary options and connection to provider networks.
Based in Montréal, Canada in 2005, Lightspeed is dual-listed on the New York Inventory Trade and Toronto Inventory Trade (NYSE | TSX: LSPD). With groups throughout North America, Europe and Asia Pacific, the corporate serves retail, hospitality and golf companies in over 100 international locations.
For extra info, see lightspeedhq.com.
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Ahead-Wanting Statements
This information launch could embody forward-looking info and forward-looking statements throughout the that means of relevant securities legal guidelines (“forward-looking statements”). Ahead-looking statements are statements which can be predictive in nature, rely upon or consult with future occasions or circumstances and are recognized by phrases similar to “will”, “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates” or related expressions regarding issues that aren’t historic info. Such statements are based mostly on present expectations of Lightspeed’s administration and inherently contain quite a few dangers and uncertainties, identified and unknown, together with financial components. Various dangers, uncertainties and different components could trigger precise outcomes to vary materially from the forward-looking statements contained on this information launch, together with, amongst different components, these danger components recognized in our most up-to-date Administration’s Dialogue and Evaluation of Monetary Situation and Outcomes of Operations, below “Danger Components” in our most up-to-date Annual Info Type, and in our different filings with the Canadian securities regulatory authorities and the U.S. Securities and Trade Fee, all of which can be found below our profiles on SEDAR at www.sedarplus.ca and on EDGAR at www.sec.gov. Readers are cautioned to contemplate these and different components fastidiously when making choices with respect to Lightspeed’s subordinate voting shares and to not place undue reliance on forward-looking statements. Ahead-looking statements contained on this information launch usually are not ensures of future efficiency and, whereas forward-looking statements are based mostly on sure assumptions that Lightspeed considers cheap, precise occasions and outcomes may differ materially from these expressed or implied by forward-looking statements made by Lightspeed. Besides as could also be expressly required by relevant regulation, Lightspeed doesn’t undertake any obligation to replace publicly or revise any such forward-looking statements, whether or not on account of new info, future occasions or in any other case.
For additional info: Media Contacts: Canada: Victoria Baker, NKPR – [email protected]; USA: Jennifer Fugel, Newsmaker Group- [email protected]; Lightspeed Media Relations – [email protected]; Investor Relations: Gus Papageorgiou, Lightspeed Investor Relations – [email protected]
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