Statistics Canada reported on February 18, 2021 that sales at eating and drinking establishments in Canada dropped 28 per cent from the year before.
Bars, taverns, drinking places and full-serve restaurants being hit the hardest. Which makes sense given they rely so heavily on foot-traffic and in person dining - lost during the lockdowns. As BNN Bloomberg notes; "the food and drinking sector is likely to face headwinds until vaccines are widely available and consumers are comfortable going out and spending money without fear of contracting and spreading the coronavirus."
Olive's conversations with Canadian restaurants have similarly highlighted these and related-concerns. Concerns such as how to get consumers back into their dining rooms and bars when sales revenues are down and marketing budgets are depleted. Many are looking for new ways to market to consumers and entice them back to their restaurants when things open up. We have seen a very strong growth in interest in new pay-for-performance models such as like cashback rewards and minimum spend offers, vs general advertising spend.
As the lockdowns ease, how will you re-engage your consumers? We'd love to hear your thoughts.
For more about the Statistics Canada report go to:
To learn more about using pay-for-performance offers to drive sales get in touch with us here at Olive.