As the holiday season approaches, understanding guest preferences and spending habits is crucial for maximizing your business’s success. In September 2024, Tock surveyed over 1,000 diners to uncover their holiday plans and preferences. The results are in, and these valuable insights can help your business capitalize on the season ahead. Here are the key takeaways:
The rush is coming—prepare now
Of those surveyed, 68% plan to celebrate with the help of restaurants and bars.
The New Year offers one of the most lucrative opportunities for hospitality businesses with over 60% of diners planning to visit a restaurant or bar on New Year’s Eve, and 55% planning to dine out on New Year’s Day. Thanksgiving presents a different dynamic, with 36% of diners planning to celebrate in a restaurant or bar, while 88% intend to order in or visit friends and family at home.
You may maximize revenue by offering a special New Year’s menu, party, or in-house experience, while focusing on curated takeout packages for Thanksgiving.
Many Tock restaurants provide packages that can easily be popped into the oven to finish at home. Drive additional revenue with beverage add-ons, next-day sandwich kits, or pastries.
Diners want special experiences
Among those surveyed, 67% of holiday diners are seeking more than a standard reservation. Themed dinners, pop-ups, tasting menus, wine pairings, and at-home experiences are all popular options.
Stay true to your brand by showcasing what you do best through a holiday lens. For instance, Exile Brewing hosts a haunted beer dinner on Halloween to highlight their seasonal brews, while Beautiful Rind, a Chicago-based cheese counter and restaurant, offers a holiday class to feature seasonal products.
Other Tock businesses offer family feasts, afternoon tea, special wine tastings, take-and-bake dinners, Hanukkah prix fixe dinners, and more.
Special holiday experiences can also engage both your guests and staff, making everyone excited to be in your establishment. And perhaps what’s even more compelling, Tock’s own data shows that special experiences generate 30% more revenue than ordinary reservations*.
Tock makes it easy to sell standard reservations and holiday experiences all in one place.
* Includes customers with POS integration and 50+ booked covers in each booking category; ordinary reservations mean non-experience reservations
Expect large parties to spike
Whether or not you typically offer large parties, the holiday season is an ideal time to make it happen with 38% of diners planning to celebrate in a group of 6-10. Guests are gathering in restaurants and bars to celebrate with friends, family, and co-workers.
While large parties can boost revenue, 37% of diners report that an overcrowded restaurant can prevent them from having a positive experience. Consider the flow of service and your floor plan. You can curb ticket times with limited or special edition menus, batched beverages, and pre-ordered selections.
Tock’s large party capabilities make it easy to manage groups with credit card holds, deposits, flexible floor plans, and tiered pricing.
Guests are booking early
When it comes to locking in a holiday reservation, 42% of diners plan to book 3-6 weeks in advance, with nearly one in six diners planning to book 5 weeks or more ahead.
Tock makes it easy to sell everything you have to offer in one place, so, for example, when a guest is booking an ordinary dinner reservation in September or October, they should already be seeing your November Thanksgiving offering.
For takeout packages, set up pre-order so guests can pay in advance, then pick up the day before or the day of the holiday.
Lead with quality
When it comes to choosing where they want to celebrate, quality food and beverage remain the top driver of bookings (41%) above price (32%), location (31%), or ambiance (33%). And while all of these factors are important, nothing surpasses beautifully executed food and drinks.
According to the survey, diners are interested in festive meals, roast turkey, prime rib, signature holiday cocktails, like spiked cider, and sweets.
Ensure that any holiday specials you’re running are getting the same attention to detail as typical menu items. Then add a festive holiday atmosphere to take your offering to the next level.
Guests want to splurge—let them
Of those surveyed, 88% of diners are willing to spend more on a holiday celebration than on a typical night out, with 17% willing to spend 50% or more, and 27% willing to spend 25%-49% more.
The holiday season is the perfect opportunity to bring in luxurious ingredients, like caviar, truffles, or special bottles of wine.
Increase check averages with add-ons
According to Tock’s own data, on average when offered, 30% of guests will purchase an add-on at the time of booking, increasing check averages by 10%*. Of those surveyed, 61% are most likely to purchase a special dessert, while holiday-themed gifts, wine pairings, and champagne toasts all remain popular options.
Though these items ranked high in our survey, you know your guests best and can choose any type of add-on you would like, whether that’s a piece of nigiri or a digestif.
Tock businesses offer retail items, like branded hats or cookbooks, in addition to bottled goods, like hot sauce or vinegar, or even experiential add-ons, like a kitchen tour.
*Add-ons to paid bookings
Protect your business against no-shows
Over 78% of diners say credit card holds or deposits will not affect their willingness to make a reservation for a holiday celebration. While this may seem surprising, just as restaurants are hoping for a commitment from diners, diners are looking for a commitment from restaurants, especially when they are organizing holiday outings for family and friends. Consider adding a credit card hold or deposit to ensure that you and your staff make the most of the holiday season.
Tock’s No-Show Elimination Suite gives restaurants the flexibility to customize payment for any and all experiences, with deposits, credit card holds, and prepayment.
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Tock can help power your business this holiday season and beyond.
