It may not come as a shock that a huge event like the Major League Baseball World Series will have a significant impact on the surrounding area. But what are the actual changes? What might this mean for brands? These are all questions that rarely get answered.
So we decided to dive into the data around the 2019 World Series to pull out some insights on what a major sporting event means for local businesses.
Local Visits Rise
Looking at visits to Nationals Park, the home of the National League champions, for the period from October 2018 through October 22nd, 2019 (the day before the World Series) shows a massive True Trade Area. The stadium draws high levels of visits from surrounding areas as teams travel and other events take place.
Yet, the entire situation shifts for the World Series. Instead of seeing larger amounts of long-distance travel in order to take in a ‘once in a lifetime’ experience, local fans make up the overwhelming majority of visits. This includes almost no visitors from Texas, the Astros home state. And the same is true in reverse.
Heightened High Income
But, the distance traveled isn’t the only difference, the type of visitors from a retail perspective changes dramatically. In the period from October 1, 2018, through October 22nd, 50.6% of Nationals Park visitors and 27.8% of Minute Maid Park visitors earned more than $100,000.
The World Series saw a dramatic rise in the group to 65.3% of Nationals Park visitors and 38.6% of Minute Maid Park visitors. This represents a substantial increase in potential up-market customers with expendable income. For both cases, visitors with a Household Income of more than $200,000 double.
More Time to Spend
And the visits take much longer, bringing an added potential. Visits during the year averaged 187 minutes for National Park and 205 minutes for Minute Maid Park. These numbers spike dramatically to 264 and 242 minutes respectively.
More Money to Spend, More Time to Spend It
The introduction of a large audience with a likelihood of more expendable income and a longer visit equals a powerful opportunity for local businesses. The Bullpen, an outdoor venue supporting food trucks and experiences near Nationals Park, saw an increase of 12.5% in visitors during the World Series pre-game period than the rest of the year.
Every change in the calendar is an opportunity. The World Series presents a powerful ability to engage with a hyper-local audience that has all the indications of being a core audience for high-income retailers. From sponsorships to pop-ups, the ability to reach this audience at a time of excitement presents a powerful opportunity, especially when you can have a full sense of the event’s impact.