As a FEC owner or operator, you're probably curious to see how 2020 impacted our online booking data. Here's some more information!
As a FEC owner or operator, you're probably curious to see how 2020 impacted our online booking data and if there’s any chance of a meaningful recovery.
The good news is that the numbers show there’s not only hope but new opportunities that have sprouted as a direct result of business owners adapting to the many obstacles on their path to success.
In the past, we’ve conducted annual studies to show FEC owners why it’s so important to develop a digital arm of your business. The online booking module can help drive revenue, and this feature has proven to be even more important in the last year as businesses pivoted and used it to pre-book guests based on capacity limitations.
2020 also exposed other tools and areas of your business that can drive revenue and more importantly, help your business survive when times are tough.
That’s why this year's study is going to look a little different. We still include information on everything from popular booking times to popular devices used, but we also have new information about online store performance. In a number of cases, starting and maintaining an online store helped our customers brave out the storm!
In our 2020 Online Booking Study, you will find:
If you'd like to learn more, download a copy of this complimentary guide by clicking the image below!
We hope that the following data equips you with the information you need to pivot and maximize revenue in 2021.
Factoring in both the average revenue for online and in-house party bookings, 2020’s average party revenue does appear to have taken a dive when compared to the growth documented from 2018 to 2019.
However, this decrease is directly related to capacity limitations due to COVID-19.
Where folks were having 10-50 person parties in 2019, business owners had to pivot to servicing smaller groups of 5, 8, and 10 (depending on the area and restrictions in place.).
Many PCS customers also used their online booking module to pre-book guests as a “group” ahead of time, which is reflected in the average booking revenue.
This change emphasizes the importance of pivoting quickly and creating other revenue streams for your business.
Although party packages are your “bread and butter,” having a Plan B will ensure your long-term survival and growth. Especially at a time when in-person gatherings are limited.
The question is: how can we do that? Well, the next section will reveal one way you can.
Q1 of 2020 signaled that online store sales were growing. Compared to 2019, 2020 started off strong.
Q2 had a significant impact on this momentum, but compared to other revenue-generating features, our online store showed the largest percentage increase of 148% between Q3 and Q4 of 2020. This is largely due to the holiday season.
While many business owners decided to shut things down completely, others pivoted quickly as soon as it became apparent that the online store could function as a stable source of revenue, especially when some had to close their doors to the public for several months.
Many businesses began to sell “take-home” craft kits, merchandise of all sorts, gift certificates, holiday-themed products and more. This led to a significant uptick in Q4.
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As a FEC owner or operator, you're probably curious to see how 2020 impacted when parties are booked. Here's some more information!
As a FEC owner or operator, you're probably curious to see what 2021's data shows about who books parties. Here's some more information!
As a FEC owner or operator, you're probably curious to see how 2020 impacted who books parties. Here's some more information!
