February 14, 2018

Valentine’s Day is a dud for Colorado, national restaurants: Report (Denver Business Journal) »

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By   –  Contributing Writer

 

For Colorado restaurants, Valentine’s Day is just another day of the year, with nothing special in terms of diners spending lots more money.

That’s according to a new report from California business analysis firm Womply, which indicated that Feb. 14 was only the 101st-best sales day of the year for Colorado restaurants.

Using data from last year, Colorado restaurants today should expect to see only a 2 percent increase in transaction volume and a 21 percent increase in revenue compared with an average day.

What was the busiest night for restaurants in Colorado last year? According to Womply, New Year’s Eve was the best sales holiday of the year for Colorado restaurants, with a 4 percent increase in transaction volume and a 54 percent increase in total sales.

Womply said it analyzed sales receipts from 515 Colorado restaurants last year to come up with its figures, and determined that Colorado Valentine’s Day sales mirrored the national results. Last year, across the country, Valentine’s Day was the 107th-best sales day for restaurants.

“The data shows restaurants should expect the same amount of foot traffic on Valentine’s Day with the number of transactions staying close to an average day but can expect a lift in revenue with patrons spending more money per ticket,” Womply said in a statement.

Why is Valentine’s Day such a dud for restaurants? USA Today surmised that more dining duos show up (instead of foursomes) and the duos linger at tables for a longer period of time, reducing the number of tables available.

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