The impact of colleges and universities on local business 2020:
University of Cincinnati
Colleges and universities are everywhere. Big cities, small towns, in every corner of the United States, there’s bound to be a degree-offering institution nearby. And, subsequently, a whole lot of students nearby as well.
There are an estimated 18 to 20 million students enrolled in public and private colleges in America today. And in many communities, those students make up a huge portion of the local economy.
In this groundbreaking study, we analyzed data at local businesses in Cincinnati to see what kind of impact major events during the school year at the University of Cincinnati has on local businesses.
NOTE: You can view other industries by selecting them from the dropdown at the top of each section in this report
The average year at local businesses in Cincinnati
Select an industry:
Before we examine major school year events like spring break and the college football season, let’s take a look at the year as a whole.
Annual sales at restaurants in Cincinnati from week-to-week.
| #1 | #2 | #3 | #4 | #5 |
|
3/2/19 |
2/23/19 |
5/12/19 Mother's Day |
9/14/19 Football |
4/27/19 |
| Saturday | Saturday | Sunday | Saturday | Saturday |
Above are the top five days of the year for Cincinnati restaurants. This means that on these days, more total dollars were spent at restaurants in Cincinnati than on any other day of the year.
Before we examine major school year events like spring break and the college football season, let’s take a look at the year as a whole.
Annual sales at bars in Cincinnati from week-to-week.
| #1 | #2 | #3 | #4 | #5 |
|
3/17/19 St. Patrick's Day |
3/16/19 |
2/23/19 |
3/9/19 |
3/2/19 |
| Sunday | Saturday | Saturday | Saturday | Saturday |
Above are the top five days of the year for Cincinnati bars. This means that on these days, more total dollars were spent at bars in Cincinnati than on any other day of the year.
Before we examine major school year events like spring break and the college football season, let’s take a look at the year as a whole.
Annual sales at lodging places in Cincinnati from week-to-week.
| #1 | #2 | #3 | #4 | #5 |
|
7/19/19 |
8/9/19 |
6/29/19 |
7/26/19 |
4/26/19 |
| Friday | Friday | Saturday | Friday | Friday |
Above are the top five days of the year for Cincinnati lodging places. This means that on these days, more total dollars were spent at lodging places in Cincinnati than on any other day of the year.
Before we examine major school year events like spring break and the college football season, let’s take a look at the year as a whole.
Annual sales at retail shops in Cincinnati from week-to-week.
| #1 | #2 | #3 | #4 | #5 |
|
7/3/19 |
7/4/19 4th of July |
12/20/19 Football - Bowl Weekend before Christmas |
5/10/19 Mother's Day Weekend |
3/1/19 |
| Wednesday | Thursday | Friday | Friday | Friday |
Above are the top five days of the year for Cincinnati retail shops. This means that on these days, more total dollars were spent at retail shops in Cincinnati than on any other day of the year.
Spring Break
Select an industry:
As the weather warms up and students get to take the week off, how are local restaurants around the University of Cincinnati impacted by spring break?
Do enough students leave town to see sales dip? Or do sales go up with an influx of vacationing students? We crunched the numbers to find out:
| Avg. revenue: spring break | Avg. transactions: spring break | Avg. ticket price: spring break |
| +3% vs avg day |
+4% vs avg day |
+0% vs avg day |
| +23% vs avg day during March |
+18% vs avg day during March |
+3% vs avg day during March |
During the week of spring break, restaurants in and around Cincinnati earned 4% more than an average day throughout the year, and 23% more than on an average day during the month of march.
Spring break was the number 18 week of the year for Cincinnati restaurants. Examine the chart above for a closer look at how much revenue went up or down throughout the week of spring break.
As the weather warms up and students get to take the week off, how are local bars around the University of Cincinnati impacted by spring break?
Do enough students leave town to see sales dip? Or do sales go up with an influx of vacationing students? We crunched the numbers to find out:
| Avg. revenue: spring break | Avg. transactions: spring break | Avg. ticket price: spring break |
| +10% vs avg day |
+15% vs avg day |
-3% vs avg day |
| +35% vs avg day during March |
+42% vs avg day during March |
-5% vs avg day during March |
During the week of spring break, bars in and around Cincinnati earned 11% more than an average day throughout the year, and 35% more than on an average day during the month of march.
As the weather warms up and students get to take the week off, how are local lodging places around the University of Cincinnati impacted by spring break?
Do enough students leave town to see sales dip? Or do sales go up with an influx of vacationing students? We crunched the numbers to find out:
| Avg. revenue: spring break | Avg. transactions: spring break | Avg. ticket price: spring break |
| -4% vs avg day |
-4% vs avg day |
+0% vs avg day |
| +14% vs avg day during March |
+19% vs avg day during March |
-3% vs avg day during March |
During the week of spring break, lodging places in and around Cincinnati earned 4% less than an average day throughout the year, and 15% more than on an average day during the month of march.
As the weather warms up and students get to take the week off, how are local retail shops around the University of Cincinnati impacted by spring break?
Do enough students leave town to see sales dip? Or do sales go up with an influx of vacationing students? We crunched the numbers to find out:
| Avg. revenue: spring break | Avg. transactions: spring break | Avg. ticket price: spring break |
| -1% vs avg day |
-3% vs avg day |
+1% vs avg day |
| +3% vs avg day during March |
+10% vs avg day during March |
-5% vs avg day during March |
During the week of spring break, retail shops in and around Cincinnati earned 2% less than an average day throughout the year, and 4% more than on an average day during the month of march.
March Madness
Select an industry:
March Madness is easily one of the biggest sporting events of the year across the United States. And you’d assume that would go double for college towns.
But does the fervor surrounding the Big Dance translate to big sales numbers for restaurants around the University of Cincinnati?
To find out, we analyzed revenue at restaurants in Cincinnati on game days for each round of the tournament and compared it to the average revenue those Cincinnati experienced on similar days of the week during the rest of the year.
Throughout the entire tournamment, on days when games were being played, restaurants earned 8% more than on similar days. Examine the chart above to see how revenue was impacted during each round of the tournament
March Madness is easily one of the biggest sporting events of the year across the United States. And you’d assume that would go double for college towns.
But does the fervor surrounding the Big Dance translate to big sales numbers for bars around the University of Cincinnati?
To find out, we analyzed revenue at bars in Cincinnati on game days for each round of the tournament and compared it to the average revenue those Cincinnati experienced on similar days of the week during the rest of the year.
Throughout the entire tournamment, on days when games were being played, bars earned 19% more than on similar days. Examine the chart above to see how revenue was impacted during each round of the tournament
March Madness is easily one of the biggest sporting events of the year across the United States. And you’d assume that would go double for college towns.
But does the fervor surrounding the Big Dance translate to big sales numbers for lodging places around the University of Cincinnati?
To find out, we analyzed revenue at lodging places in Cincinnati on game days for each round of the tournament and compared it to the average revenue those Cincinnati experienced on similar days of the week during the rest of the year.
Throughout the entire tournamment, on days when games were being played, lodging places earned 3% less than on similar days. Examine the chart above to see how revenue was impacted during each round of the tournament
March Madness is easily one of the biggest sporting events of the year across the United States. And you’d assume that would go double for college towns.
But does the fervor surrounding the Big Dance translate to big sales numbers for retail shops around the University of Cincinnati?
To find out, we analyzed revenue at retail shops in Cincinnati on game days for each round of the tournament and compared it to the average revenue those Cincinnati experienced on similar days of the week during the rest of the year.
Throughout the entire tournamment, on days when games were being played, retail shops earned 1% more than on similar days. Examine the chart above to see how revenue was impacted during each round of the tournament
Finals Week
Select an industry:
The end of spring semester is perhaps the most-anticipated time of the year for college students around the country.
When final exams are in the rear window, do students celebrate by spending at local businesses? Does the extra revenue of family members visiting to attend commencement make a difference?
Let's find out.
| Avg. revenue: finals | Avg. transactions: finals | Avg. ticket price: finals |
| +12% vs avg day |
+10% vs avg day |
+1% vs avg day |
| +9% vs avg day during May |
+7% vs avg day during May |
+1% vs avg day during May |
During the week of final exams, restaurants in and around Cincinnati earned 12% more than an average day throughout the year, and 9% more than on an average day during the months of April and May.
Finals week was the number 2 week of the year for Cincinnati restaurants. Examine the chart above for a closer look at how much revenue was impacted throughout the week of finals.
The end of spring semester is perhaps the most-anticipated time of the year for college students around the country.
When final exams are in the rear window, do students celebrate by spending at local businesses? Does the extra revenue of family members visiting to attend commencement make a difference?
Let's find out.
| Avg. revenue: finals | Avg. transactions: finals | Avg. ticket price: finals |
| +7% vs avg day |
+7% vs avg day |
+0% vs avg day |
| +2% vs avg day during May |
+3% vs avg day during May |
+0% vs avg day during May |
During the week of final exams, bars in and around Cincinnati earned 7% more than an average day throughout the year, and 3% more than on an average day during the months of April and May.
Finals week was the number 5 week of the year for Cincinnati bars. Examine the chart above for a closer look at how much revenue was impacted throughout the week of finals.
The end of spring semester is perhaps the most-anticipated time of the year for college students around the country.
When final exams are in the rear window, do students celebrate by spending at local businesses? Does the extra revenue of family members visiting to attend commencement make a difference?
Let's find out.
| Avg. revenue: finals | Avg. transactions: finals | Avg. ticket price: finals |
| +10% vs avg day |
+11% vs avg day |
+0% vs avg day |
| +6% vs avg day during May |
+0% vs avg day during May |
+6% vs avg day during May |
During the week of final exams, lodging places in and around Cincinnati earned 11% more than an average day throughout the year, and 6% more than on an average day during the months of April and May.
Finals week was the number 9 week of the year for Cincinnati lodging places. Examine the chart above for a closer look at how much revenue was impacted throughout the week of finals.
The end of spring semester is perhaps the most-anticipated time of the year for college students around the country.
When final exams are in the rear window, do students celebrate by spending at local businesses? Does the extra revenue of family members visiting to attend commencement make a difference?
Let's find out.
| Avg. revenue: finals | Avg. transactions: finals | Avg. ticket price: finals |
| -1% vs avg day |
+9% vs avg day |
-9% vs avg day |
| -1% vs avg day during May |
+2% vs avg day during May |
-3% vs avg day during May |
During the week of final exams, retail shops in and around Cincinnati earned 1% less than an average day throughout the year, and 1% less than on an average day during the months of April and May.
Finals week was the number 14 week of the year for Cincinnati retail shops. Examine the chart above for a closer look at how much revenue was impacted throughout the week of finals.
Back to School
Select an industry:
As summer ends and students come flocking back to the University of Cincinnati, do local restaurants see a major boost in sales?
Here's what we learned
| Avg. revenue: back to school | Avg. transactions: back to school | Avg. ticket price: back to school |
| -2% vs avg day |
+0% vs avg day |
-2% vs avg day |
| -3% vs avg day during August |
+0% vs avg day during August |
-4% vs avg day during August |
The week that classes began at the University of Cincinnati saw Cincinnati restaurants earn 2% less than an average day throughout the year, and 4% less than on an average day during the month of August.
Examine the chart above for a closer look at how much revenue at restaurants were impacted during the first week of classes at the University of Cincinnati. (Classes resumed on Monday, August 26)
As summer ends and students come flocking back to the University of Cincinnati, do local bars see a major boost in sales?
Here's what we learned
| Avg. revenue: back to school | Avg. transactions: back to school | Avg. ticket price: back to school |
| -5% vs avg day |
-6% vs avg day |
+0% vs avg day |
| -12% vs avg day during August |
-12% vs avg day during August |
+0% vs avg day during August |
The week that classes began at the University of Cincinnati saw Cincinnati bars earn 6% less than an average day throughout the year, and 13% less than on an average day during the month of August.
Examine the chart above for a closer look at how much revenue at bars were impacted during the first week of classes at the University of Cincinnati. (Classes resumed on Monday, August 26)
As summer ends and students come flocking back to the University of Cincinnati, do local lodging places see a major boost in sales?
Here's what we learned
| Avg. revenue: back to school | Avg. transactions: back to school | Avg. ticket price: back to school |
| -3% vs avg day |
+5% vs avg day |
-8% vs avg day |
| -3% vs avg day during August |
+19% vs avg day during August |
-18% vs avg day during August |
The week that classes began at the University of Cincinnati saw Cincinnati lodging places earn 4% less than an average day throughout the year, and 3% less than on an average day during the month of August.
Examine the chart above for a closer look at how much revenue at lodging places were impacted during the first week of classes at the University of Cincinnati. (Classes resumed on Monday, August 26)
As summer ends and students come flocking back to the University of Cincinnati, do local retail shops see a major boost in sales?
Here's what we learned
| Avg. revenue: back to school | Avg. transactions: back to school | Avg. ticket price: back to school |
| -3% vs avg day |
+0% vs avg day |
-3% vs avg day |
| -1% vs avg day during August |
+8% vs avg day during August |
-9% vs avg day during August |
The week that classes began at the University of Cincinnati saw Cincinnati retail shops earn 4% less than an average day throughout the year, and 2% less than on an average day during the month of August.
Examine the chart above for a closer look at how much revenue at retail shops were impacted during the first week of classes at the University of Cincinnati. (Classes resumed on Monday, August 26)
Football
Select an industry:
In most parts of the country, the college football season is the highlight of the year for students and locals alike.
But does college football fever in Cincinnati translate to big bucks for local businesses?
Let’s take a look at the numbers:
| Avg. revenue: Saturdays during football |
Avg. transactions: Saturdays during football |
Avg. ticket price: Saturdays during football |
| -10% vs avg Saturday |
-7% vs avg Saturday |
-2% vs avg Saturday |
On Saturdays throughout the college football season, Cincinnati restaurants earned 10% less than an average Saturday during the rest of the year.
In fact, college football was big enough for restaurants in Cincinnati that 1 of the top 10 days of the year were during college football weekends.
In most parts of the country, the college football season is the highlight of the year for students and locals alike.
But does college football fever in Cincinnati translate to big bucks for local businesses?
Let’s take a look at the numbers:
| Avg. revenue: Saturdays during football |
Avg. transactions: Saturdays during football |
Avg. ticket price: Saturdays during football |
| -20% vs avg Saturday |
-21% vs avg Saturday |
+0% vs avg Saturday |
On Saturdays throughout the college football season, Cincinnati bars earned 20% less than an average Saturday during the rest of the year.
In most parts of the country, the college football season is the highlight of the year for students and locals alike.
But does college football fever in Cincinnati translate to big bucks for local businesses?
Let’s take a look at the numbers:
| Avg. revenue: Saturdays during football |
Avg. transactions: Saturdays during football |
Avg. ticket price: Saturdays during football |
| -13% vs avg Saturday |
-17% vs avg Saturday |
+5% vs avg Saturday |
On Saturdays throughout the college football season, Cincinnati lodging places earned 13% less than an average Saturday during the rest of the year.
In fact, college football was big enough for lodging places in Cincinnati that 2 of the top 10 days of the year were during college football weekends.
In most parts of the country, the college football season is the highlight of the year for students and locals alike.
But does college football fever in Cincinnati translate to big bucks for local businesses?
Let’s take a look at the numbers:
| Avg. revenue: Saturdays during football |
Avg. transactions: Saturdays during football |
Avg. ticket price: Saturdays during football |
| -5% vs avg Saturday |
-7% vs avg Saturday |
+2% vs avg Saturday |
On Saturdays throughout the college football season, Cincinnati retail shops earned 5% less than an average Saturday during the rest of the year.
In fact, college football was big enough for retail shops in Cincinnati that 4 of the top 10 days of the year were during college football weekends.
Of course, there is some overlap between the college football season and the holiday shopping season, which is also huge for local retail shops around the country.
Summmer and Holiday Breaks
Select an industry:
Finally, we wanted to look at the two times of year when school is out and many students head home during the break.
Do the summer and holiday breaks result in a dip in sales for restaurants around the University of Cincinnati?
Here’s what we learned:
| Avg. revenue: summer break | Avg. transactions: summer break | Avg. ticket price: summer break |
| +0% vs avg day |
+0% vs avg day |
+0% vs avg day |
From the end of spring semester until the start of fall semester, Cincinnati restaurants earned 0% less than the annual average.
| Avg. revenue: holiday break | Avg. transactions: holiday break | Avg. ticket price: holiday break |
| +3% vs avg day |
+4% vs avg day |
+0% vs avg day |
During the weeks of the holiday break, meanwhile, Cincinnati restaurants earned 4% more than the annual average.
Finally, we wanted to look at the two times of year when school is out and many students head home during the break.
Do the summer and holiday breaks result in a dip in sales for bars around the University of Cincinnati?
Here’s what we learned:
| Avg. revenue: summer break | Avg. transactions: summer break | Avg. ticket price: summer break |
| -2% vs avg day |
-1% vs avg day |
-1% vs avg day |
From the end of spring semester until the start of fall semester, Cincinnati bars earned 3% less than the annual average.
| Avg. revenue: holiday break | Avg. transactions: holiday break | Avg. ticket price: holiday break |
| +10% vs avg day |
+15% vs avg day |
-3% vs avg day |
During the weeks of the holiday break, meanwhile, Cincinnati bars earned 11% more than the annual average.
Finally, we wanted to look at the two times of year when school is out and many students head home during the break.
Do the summer and holiday breaks result in a dip in sales for lodging places around the University of Cincinnati?
Here’s what we learned:
| Avg. revenue: summer break | Avg. transactions: summer break | Avg. ticket price: summer break |
| +9% vs avg day |
+14% vs avg day |
-4% vs avg day |
From the end of spring semester until the start of fall semester, Cincinnati lodging places earned 9% more than the annual average.
| Avg. revenue: holiday break | Avg. transactions: holiday break | Avg. ticket price: holiday break |
| -4% vs avg day |
-4% vs avg day |
+0% vs avg day |
During the weeks of the holiday break, meanwhile, Cincinnati lodging places earned 4% less than the annual average.
Finally, we wanted to look at the two times of year when school is out and many students head home during the break.
Do the summer and holiday breaks result in a dip in sales for retail shops around the University of Cincinnati?
Here’s what we learned:
| Avg. revenue: summer break | Avg. transactions: summer break | Avg. ticket price: summer break |
| +0% vs avg day |
+2% vs avg day |
-1% vs avg day |
From the end of spring semester until the start of fall semester, Cincinnati retail shops earned 0% more than the annual average.
| Avg. revenue: holiday break | Avg. transactions: holiday break | Avg. ticket price: holiday break |
| -1% vs avg day |
-3% vs avg day |
+1% vs avg day |
During the weeks of the holiday break, meanwhile, Cincinnati retail shops earned 2% less than the annual average.
Methodology
Womply analyzed daily revenue for over 41,000 retail shops, 36,000 restaurants, 4,000 lodging places, and 2,200 bars, in all 50 states, for all 365 days of the 2019 calendar year. Businesses were only included in the analysis if they qualified as small businesses, Womply had a full year of transaction history, and the business recorded multiple transactions per day, on average.