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World Cup 2018: Things every business owner needs to consider


With less than a week left until kick-off, anticipation around the 2018 World Cup is at its peak. International sports tournaments can be hugely beneficial for businesses across the retail and hospitality industries, bringing in increased footfall and revenue from fans and spectators.


Even in the UK, there’s plenty of potential for SMEs to cash in on the event. From streamlining stock control to getting a firm grip on theft management, here are a few things that every business owner should be considering ahead of the tournament start date.

Queue management

Pubs, bars and sports retailers are among the businesses that can expect to see a significant increase in footfall during the World Cup. That’s great news for your bottom line, but effective queue management is something you need to consider if you hope to please the 89% of consumers who have previously turned their back on a purchase due to excessive queuing.

The key to cutting queues is to reduce the time staff spend processing each transaction. Your EPOS system will play a central role in speeding up service and allowing staff to serve more customers in a short space of time. This is particularly important for pubs and bars that are streaming the matches as they happen, as half-time queues have a reputation of being particularly difficult to manage.

World Cup 2018: Things every business owner needs to consider

Effective promotion

Customers won’t be short on choice when it comes to where to watch the biggest games or stock up on the hottest merchandise. From utilising social media to promoting special offers on chalkboards outside your venue, there’s real value in raising awareness of your business ahead of games and letting both new and loyal customers know that you’re entering into the spirit of the tournament.

The key to promoting your business ahead of the World Cup is to be creative in your marketing efforts. Make puns with football terminology to promote special deals and go the extra mile when decorating your venue with flags and scarves. Advertising your business in a fun, energetic way is one way to ensure you stand out amongst a sea of competitors.

Maximising space

70% of people say they want more seating with a view when watching sports fixtures within a pub or bar environment, so getting the very most from the space inside your venue can go far in keeping customers happy. While rearranging the furniture in your pub or bar may feel like an inconvenience, maximising the number of paying customers you can fit into your venue is one way to increase revenue at no cost to you. The more sports fans that can access a clear view of the screen, the more likely you are to attract repeat visits during the rest of the tournament and beyond.

Deterring theft

For those businesses that are expecting a real surge in custom during the World Cup, there may be a need to bring in more staff to cope with demand. Yet hiring an influx of temporary or part-time staff can increase the risk of employee theft, a problem that accounts for 20% of all small business losses.

If you’re considering hiring additional staff, you should also be thinking about enhancing security. Epos Now systems offer increased transparency around staff performance, giving you clear insight into stock levels, sales and transactions in relation to individual staff members.

World Cup 2018: Things every business owner needs to consider

Improved stock control

More customers naturally means you’ll need more stock, but knowing exactly which products to order can be a challenge. The aim is to prevent the risk of running low on key products while eliminating wastage and over-ordering.

The best EPOS systems track stock data in real-time, alerting you when it may be time to stock up on those products you sell the most of. Keeping a close eye on your inventory for the duration of the tournament is key to keeping customers happy and avoiding disappointment. Automated stock control systems also negate the need for manual stock takes, saving you time that can be invested back into improving the customer experience.

There's bound to be additional planning ahead of a big event like the World Cup, but it’s important to focus on how your business can benefit above all else. International tournaments such as this bring the potential for a huge increase in revenue, so there's real value in fully immersing your business into the spirit of the event.



AUTHOR

Natalie Stubbs

Natalie joined Epos Now in May 2018, taking on the role of SEO & Content Marketing Executive. As well as a passion for content, she enjoys fashion and good food.



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