A key part of business…
Whether you have a venue, stadium or theatre, product sales are a key element for your organization. From parking to wardrobe to F&B and merchandise, these sales help to fund organizations and to help keep the live entertainment alive, and can promote enthusiasm and excitement for your audience.
For instance, merchandise has become its own industry for many organizations, but especially for sports entertainment. Starting from the late 1950s, t-shirts, hats, and keychains with sports team logos became available to the public. Now, merchandise is a huge part of sporting events, with almost everyone in the audience representing their team in, sometimes, head to toe gear. In the United States, the sporting goods industry is a billion-dollar industry with sales increasing every year (according to Statistica).
Another example is F&B sales, where drinks alone make up a large percentage of the total revenue for organizations like the Royal Shakespeare Company, Even for smaller organizations, like the Soho Theatre, drink sales represent up to 20% of their annual turnover.
Activity Stream is now adding product sales insights to the solution, which together with ticket sales and donations will now cover all ‘transactional’ revenue.
The Data and the Content
Whether ticket sales come through a ticketing platform, a webshop or point of sale terminals, the revenue can now be broken down and analyzed by a number of different perspectives: outlet, customer demographics, price points, and much more. And by seeing it side-by-side with ticket sales and donations, users get a much more unified perspective on business.
To the fullest extent possible, all product sales will be connected to the customer profiles, giving a fuller view of the behavior and enabling better targeting on communications and campaigns.
As with all our new features, we’ll be looking to collect feedback from users in the coming weeks and months, and then build out additional tools and observations based on that feedback.
Want to know more? Please reach out by sending us an email.