Consumers Embrace Novel Experiences and Non-core Offers
These strategies create new revenue sources and promote the brand
According to the Square survey, more than half (51%) of consumers purchased a retail item or service from a restaurant in the past year. In addition, over three-quarters are interested in trying new offerings at businesses known for something else (80%) or participating in specific perks, activities, or events (85%).
Many restaurant owners have picked up on this trend and offer classes, pre-packaged foods, and merchandise like t-shirts or hats. Bagelshop, for example, sells olive oils, tinned fish, t-shirts, and a branded sweatsuit. In December, Gioia’s Market (part of Gioia’s Deli) sold $20,000 of pre-packaged foods, branded shirts, and other retail items.
“Pins, t-shirts, and hats are a way to get your brand in front of folks when they aren’t in your store. It’s a traffic driver that brings people back.”
- Alison Schilling, Managing Director and Partner, L.E.K. Consulting
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