8 ways to maximise revenue this christmas
The Christmas season is a potentially huge revenue opportunity for hospitality business owners, and it doesn’t matter if you’re running a bustling bar, a family-friendly pub or a fine-dining restaurant – Christmas is a business boost for everyone. However, if you’re reading this article, you’re concerned that factors such as rising food and drink costs and the ongoing cost of living crisis that influences customers to opt for more budget-friendly choices are potentially going to impact on revenue this year and you’re looking for strategies to combat this.
Well, we think that’s a solid plan and, in this article, we’ll look at some of the strategies you can adopt to protect revenue over the Christmas period.
Here at Access, we hear lots of our customers tell us the trends they are seeing within their businesses, and we help adopt software solutions to optimise processes to save money within operations or ways you can influence customer behaviour. And in this article, we’re going to tell you how to do both.
1. Adapting for Smaller Gatherings
As the landscape shifts toward smaller party bookings rather than large group reservations, adjustments are key. Lunches and premium experiences are gaining traction over traditional party nights. Embrace these shifts and tailor your offerings to provide quality moments, ensuring customer satisfaction without compromising your revenue potential.
2. Advanced Bookings and Clear Policies
The post-pandemic world has taught customers the value of securing their preferences. Advance bookings for smaller groups are now the norm. Equip your reservation system to handle individual requests and communicate transparent refund policies. Amidst uncertain regulations, guests will appreciate clarity on cancellations and commitments.
3. Site-Specific Strategies
Acknowledge the distinct sentiments and behaviours of customers in various locations. Demographics and local dynamics play a role in shaping attitudes. Assign a Christmas coordinator who can swiftly adapt to fluctuations and customise strategies that resonate with each site's audience.
4. Streamlined Menus and Flexibility
Ease pressure in the kitchen by focusing on seasonal ingredients with consistent supply. Keep menus nimble to account for stock availability, and update allergen information with any substitutions. Agility is crucial in keeping both your business and customers safe and satisfied.
5. Caring for Your Team
Your staff's well-being matters. Remember that they have faced their own challenges. Prioritise their mental and physical health, avoiding excessive workloads. While financial incentives are motivating, balance is vital. Allow them the space to plan and unwind, ensuring their overall well-being is a cornerstone of your holiday success. Read more on keeping your hospitality staff happy over the festive season.
6. Clever Upselling Techniques
Combat the trend of budget-friendly downgrading by deploying strategic upselling tactics. Enhance your menu with enticing add-ons that enhance the dining experience. Showcase higher-margin items in creative ways, tempting customers to indulge in premium offerings. A well-crafted suggestion can make a significant difference in boosting revenue without sacrificing value.
7. Reducing Food Waste
Address food waste by optimising portion sizes and implementing efficient inventory management. Analyse past trends and customer preferences to minimise surplus while maximising taste and presentation. By curbing waste, not only do you contribute to sustainability, but you also improve your bottom line. Read more on how to reduce food waste.
8. Trend Insights from Access Hospitality
Stay ahead of the curve by exploring the Access Hospitality Christmas guide. Discover up-to-date trends that will ensure your offerings resonate with customer desires. By aligning your offerings with the latest trends, you'll not only attract more customers but also enhance your potential to maximise revenue during the holiday season.
Ready to boost your bottom line this Christmas?
In this article, we’ve looked at some strategies you can adopt to ensure maximum revenue from this Christmas season. But have you considered how hospitality software can help to make this process even easier?
From hospitality booking and reservation software to help you manage table planning during your busiest shifts and take deposits, to sophisticated staff scheduling software that takes the pain out of rota planning, and fully-connected hospitality procurement software that keeps track of your inventory in real-time to help you optimise menus and track food waste – Access Hospitality offers a range of solutions that often work in conjunction with each other to streamline processes over Christmas and beyond.
Download our brochure to discover more about Access Hospitality software or check out the Christmas Planning Hub for more Christmas content.
