Montreal, Oct. 19, 2023 (GLOBE NEWSWIRE) -- 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.
- 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.
*Methodology
Lightspeed 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
Attachment
Sara Basdeo Lightspeed Commerce Inc. 6475376271 sara.basdeo@lightspeedhq.com
