Turn Saved Minutes into Measurable Millions
Concessions: a Revenue Powerhouse
Visitors’ experience at sports stadiums, theaters, and other entertainment venues often begins with a long wait in line for someone to poke through their handbag with a stick. Nearly all of them would swap that invasive search for an opportunity to fill a bag with concessions. And concession revenue is far more significant than many might realize, with the majority of concessions often being sold before an event even begins. The more time people have inside the venue—not in a security screening line—the more time they have to spend. Concession revenue refers to the money generated from non-ticket sales, such as food, beverages, and merchandise within the venue. While ticket sales remain the primary income source for most events, concession revenue still accounts for up to 40% of total revenue.The Critical Window: Concession Sales Peak Before Events Begin
Understanding when fans make their purchases is crucial. Some venues report that over 50% of their concessions sales take place before the opening whistle is blown. And a Datassential report found that 52% of food and beverage purchases at a sport or concert stadium were impulse purchases, suggesting that happier people with more time to shop might spend more. Technological advancements within venues, such as ordering apps, self-checkout kiosks, and facial authentication payment systems accelerate transactions. But these in-venue efficiencies are only fully realized if fans can enter the venue efficiently in the first place.
CheckStream Unlocks Hidden Revenue Potential
It’s Simple. Less time in line equates to more money spent.
No venue can afford to compromise security. But every minute spent in the bag search line is a minute not spent purchasing concessions and merchandise. That’s why Spectrohm built a new approach to internal imaging from the ground up—CheckStream. We reject the choice between thoroughness and speed. With CheckStream by Spectrohm, you can have both.
Let’s build a future where we can have the high-speed bag inspection we need, wherever and whenever we need it—and ideally followed by a hot pretzel, a cold drink, and a great game!
