How NFL Stadiums Score Big for Nearby Restaurants & Retail
Understanding the dynamics of foot traffic and consumer behavior is crucial for identifying prime locations and maximizing property value. NFL stadiums, with their massive draw of attendees during game days, represent significant opportunities for nearby restaurants and retail establishments. Data shows how these stadiums act as catalysts for foot traffic and commercial activity, offering valuable insights for investors and developers.
Stadiums Drive Foot Traffic
NFL stadiums serve as magnets for foot traffic, especially on game days. According to research from CoStar and Placer.ai, stadiums like AT&T Stadium and M&T Bank Stadium demonstrate varying degrees of influence on pre- and post-game visits to nearby dining venues. For instance, State Farm Stadium in Glendale, Arizona, sees 11% of attendees at pre-game visits and 18.9% for post-game stops. Similarly, AT&T Stadium in Arlington, Texas, sees a remarkable 14.2% of attendees making pre-game dining stops, spiking to 20.6% for post-game visits. This indicates significant potential for nearby businesses to capitalize on game-day traffic.
Post-COVID Resurgence
As the world emerges from the COVID-19 pandemic, stadiums have witnessed a resurgence in foot traffic. Placer.ai’s analysis of 132 stadiums highlights the sustained strength of in-person events, with stadium visits remaining consistent or above pre-pandemic levels. Super Bowl LVIII at Allegiant Stadium in Las Vegas showcased the enduring appeal of live events, with post-game foot traffic contributing to the city’s vibrant entertainment scene.
Local Spillover Effects
A study published on ScienceDirect delves into the local spillover effects of major league sports venues, including NFL stadiums. The research reveals that stadiums generate substantial additional spending for nearby food & accommodation and retail businesses. Stadiums like baseball and football stadiums show significant foot traffic spillover effects, particularly within a 1-kilometer radius, presenting opportunities for businesses to cater to the influx of visitors.
Commercial Potential for NFL Stadiums
Stadiums represent more than just venues for sporting events; they are drivers of commercial activity with immense potential for revenue generation. Insights into the significant percentage of attendees making pre- and post-game visits to nearby dining and retail venues highlight the lucrative opportunities for investors. This influx of visitors creates an atmosphere conducive to commercial activity, making properties in close proximity highly desirable for investors seeking high foot traffic locations. As the commercial potential of NFL stadiums and other sporting venues continues to evolve, stakeholders can leverage data insights to optimize their strategies and enhance the overall visitor experience.
