"Aside from safety and overall venue environment, fans across the world place food and beverage above all else when ranking the elements that are most important to their fan experience," said, Jay Upchurch, Oracle Hospitality, vice president. "Our cloud platforms provide operators with the enterprise agility they need to remain innovative and responsive to change, readily incorporating the most advanced technologies that come along to make the fan experience even more memorable."
Counter to current trends of spending exorbitantly on video boards and pre-game entertainment to fill seats, the research indicates employing technology to enhance food and beverage may yield a greater return on investment. Indeed, survey findings reveal the underutilization of food and beverage technology and confirm significant demand for it. For example, mobile technology to improve ordering, payment and delivering loyalty programs is a promising path to greater sales. That premise is supported by results, including:
- 68% of U.S. fans and 60% of international fans said they would "probably" or "definitely" use in-seat ordering if available at their stadium.
- American fans, on average, said they would spend an additional $20 for food & beverage if wait times were cut in half – representing a 43% increase in typical expenditure (per party, per game).
- 27% of U.S. fans and 14% of international fans stated they are members of a loyalty rewards program offered by a team or stadium.
"The live event experience continues to be the optimal method of consuming entertainment," said Haynes Hendrickson, Turnkey Intelligence's President. "We have found that technology can positively impact the event experience and the bottom line of a venue. By embarking on this research study with Turnkey Intelligence, Oracle has demonstrated its commitment to excellence in our industry."
Oracle Hospitality pursued the research project to advance the company's commitment of delivering foundational technology that helps solve venue operators' biggest challenges.
About Oracle Hospitality Sports & Entertainment:
Oracle Hospitality Sports & Entertainment brings 35+ years of experience providing industry-leading technology solutions to sports and entertainment venues worldwide. The company's point-of-sale platform is the premier food and beverage solution, enabling operators to deliver an efficient and innovative fan experience throughout their venue. Key features include: inventory management, loyalty rewards, third-party integrations for in-seat ordering, and more.
About Turnkey Intelligence:
Turnkey Intelligence is home to a custom research department that has conducted and analyzed more than 500 studies for sports and entertainment's top leagues, properties, brands and events. TI is also the proud creator of the Audience Portal, the sports and entertainment industry's online data and analytics hub. Over 220 clients utilize the Portal to sell and market smarter. For more information about Turnkey Intelligence, visit Intel.TurnkeySE.com.
To learn more about Oracle Hospitality, please follow @oraclehosp and @OracleHospitality
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