Lightspeed Commerce Inc. (NYSE | TSX: LSPD) released new data*
showing that last year’s Monday night Halloween gave a big boost to
bar and takeout sales. The numbers, which are based on a sample of
thousands of restaurants and bars powered by Lightspeed across
North America, suggest a busy Halloween Tuesday may be on the
horizon this year.
Powering the world’s best businesses, Lightspeed is the unified
POS and payments platform for ambitious entrepreneurs to accelerate
growth, provide the best customer experiences and become a go-to
destination in their space.
Here are some key findings.
- La-La Land loves Halloween. Bars in Los
Angeles were busy on Halloween night. They saw a 107% increase in
sales compared to the previous Monday. Jacksonville came in second
with a 65% jump from one week to the next. Brooklyn closes out the
top three with a 46% bump.
- Coming in at the other end of the spectrum were Columbus, Key
West and Minneapolis, where bars saw the sharpest decline in sales.
Lightspeed data shows a 46% drop in Columbus and Key West, while
Minneapolis saw a 49% slump in bar tabs.
- When Halloween is on a weekday, takeout orders
surge. On Halloween, restaurants across all
categories—fast casual, casual, upscale or fine dining—saw an
11.37% increase in takeout sales compared to the previous Monday.
As October 31 lands on a Tuesday this year, restaurants can plan
ahead to make the most of this takeout bump.
- Shots and mixed drinks are the
“boos” of choice. In
bars across North America, spirit sales grew by 68% on Halloween
night 2022 compared to the prior week. Cocktail sales saw a 34% top
up, whereas wine sales decreased by 17%. While bars that plan to
stay open on Halloween night can stay ahead of the curve by
stocking up on the hard stuff, it appears many consumers still fear
spilling wine on their costume.
- Across the United States, pumpkin still reigns supreme
in the spooky season. It’s especially beloved in the
Northeast, where sales of pumpkin related items grew by 3,164% in
October compared to July. In the South, sales of pumpkin goods
surged by 2,824% compared to a 1,737% hike in the Midwest and a
1,216% increase on the West Coast.
- In a particularly pronounced case of pumpkin appreciation,
Portland, Maine saw a whopping 46,275% increase in sales of pumpkin
related items in October compared to July.
The data likely comes as no surprise to bars and fast casual
restaurants, who are prepping for a Halloween spike with events,
promotions and increased staff. “We are ready for it,” says Rohit
Sharma, General Manager and Operations Partner at Bar 404, a
speakeasy in downtown Toronto. “There will be a lot of guests
coming at the same time, [and we] want to make sure we have more
hosts to accommodate [everyone].” Sharma also encourages employees
to get in on the fun, creating seasonal cocktails and wearing
costumes to work.
Speaking to the uptick in
business on Halloween night, Peter Dougherty, General Manager of
Hospitality at Lightspeed Commerce, acknowledged that it’s always
been a popular holiday for bar-goers. "If last year’s numbers are
any indication, restaurant and bar managers who are open for
business on Tuesday nights should make sure they’re properly
staffed on October 31. What's especially interesting for bars is
how much of the ticket increase is driven by spirits and cocktails,
with beer sales only rising slightly, when we've seen off-premise
sales primarily driven by beer." Overall Dougherty sees the data as
an opportunity for hospitality businesses. “With Halloween and the
return of pumpkin season, our customers can really flex their
creativity. We’re seeing some amazing menu items,” he notes. “I’m
not just talking about baked goods. We’re seeing pumpkin horchata,
pumpkin espresso martinis and a huge amount of complex, spiced
beers—it’s incredible.”
Lightspeed’s Advanced Insights can help bars and restaurants
anticipate busy nights. It identifies the most profitable hours and
best-selling menu items so managers can optimize scheduling and
menu planning.
Lightspeed powers the world’s best bars, including: Death &
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 House (London), Maybe Sammy
(Sydney), Sunshine Brewery (Gisborne) and In den Ouden Vogelstruys
(Maastricht).
Dive into the transformative features of Lightspeed Restaurant
on our website, or to witness its powerful capabilities, see
lightspeedhq.com/pos/restaurant.
*MethodologyLightspeed analyzed internal data
from thousands of hospitality businesses powered by Lightspeed
Restaurant across North America. The analysis reviewed check size
and other data points across cohorts of bars, casual, fine dining,
upscale and fast casual hospitality businesses. In particular,
Lightspeed focused on various sales changes from one Monday to the
next when looking at Halloween itself. In addition, when analyzing
pumpkin trends, Lightspeed compared data from July 1, 2022 to
October 31, 2022.
About Lightspeed
Powering the businesses that are the backbone of the global
economy, Lightspeed’s one-stop commerce platform helps merchants
innovate to simplify, scale and provide exceptional customer
experiences. Our cloud commerce solution transforms and unifies
online and physical operations, multichannel sales, expansion to
new locations, global payments, financial solutions and connection
to supplier networks.
Founded in Montréal, Canada in 2005, Lightspeed is dual-listed
on the New York Stock Exchange and Toronto Stock Exchange (NYSE |
TSX: LSPD). With teams across North America, Europe and Asia
Pacific, the company serves retail, hospitality and golf businesses
in over 100 countries.
For more information, see lightspeedhq.com.
Follow us on social media: LinkedIn, Facebook, Instagram,
YouTube, and Twitter.
Forward-Looking Statements
This news release may include forward-looking information and
forward-looking statements within the meaning of applicable
securities laws ("forward-looking statements"). Forward-looking
statements are statements that are predictive in nature, depend
upon or refer to future events or conditions and are identified by
words such as "will", "expects", "anticipates", "intends", "plans",
"believes", "estimates" or similar expressions concerning matters
that are not historical facts. Such statements are based on current
expectations of Lightspeed's management and inherently involve
numerous risks and uncertainties, known and unknown, including
economic factors. A number of risks, uncertainties and other
factors may cause actual results to differ materially from the
forward-looking statements contained in this news release,
including, among other factors, those risk factors identified in
our most recent Management's Discussion and Analysis of Financial
Condition and Results of Operations, under "Risk Factors" in our
most recent Annual Information Form, and in our other filings with
the Canadian securities regulatory authorities and the U.S.
Securities and Exchange Commission, all of which are available
under our profiles on SEDAR at www.sedarplus.ca and on EDGAR at
www.sec.gov. Readers are cautioned to consider these and other
factors carefully when making decisions with respect to
Lightspeed's subordinate voting shares and not to place undue
reliance on forward-looking statements. Forward-looking statements
contained in this news release are not guarantees of future
performance and, while forward-looking statements are based on
certain assumptions that Lightspeed considers reasonable, actual
events and results could differ materially from those expressed or
implied by forward-looking statements made by Lightspeed. Except as
may be expressly required by applicable law, Lightspeed does not
undertake any obligation to update publicly or revise any such
forward-looking statements, whether as a result of new information,
future events or otherwise.
For further information: Media Contacts: Canada: Victoria Baker,
NKPR - victoriab@nkpr.net; USA: Jennifer Fugel, Newsmaker Group-
jfugel@newsmakergroup.com; Lightspeed Media Relations -
media@lightspeedhq.com; Investor Relations: Gus Papageorgiou,
Lightspeed Investor Relations -
investorrelations@lightspeedhq.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/6969cbde-3b21-4ccd-8010-5565c2c36f5f
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