Ready, steady, sell: Prepare your stores for major sports events

Explore the top payment solutions that will help you exceed your sales target during major sports events and keep a winning streak in retail.

April 8, 2024
 ·  7 minutes

Large-scale sporting events affect a host country’s entire economy, attracting big crowds and bigger bucks.

Consumer spending jumps. According to some estimates, the Olympic Games alone brings a 30% increase in sales three weeks before the event and a 50% increase for three weeks after. Similarly, consumer spending on the Super Bowl in 2024 is projected to see a 4.8% increase to reach USD 17.3 billion.

This is great news for you. Your retail business can expect more revenue as fans treat themselves online and in-store. 

We identified five focus areas to help you maximize this opportunity and raise the bar on your retail game:

  • Payment methods

  • Dynamic currency conversions

  • Mobile POS solutions

  • Tax-free shopping

  • Donations

“Large-scale sports events are buying events. Retailers don’t just watch from the sidelines. They’re part of the action. And they have a golden opportunity to score more with financial technology.”—Warren Vogt, Senior Manager of Small Format and Luxury Retail, Adyen

Offer the payment methods shoppers want

Sports fans visiting from abroad buy souvenirs, explore local shops, and take advantage of discounts. They especially want to get their hands on team apparel, game-related memorabilia, and limited-edition merchandise.

But 55% of shoppers abandon the in-store checkout if they can’t pay using their preferred methods. 49% use digital wallets and other local payment methods that don’t involve cash or cards.

So don’t miss out on capturing these sales, especially with international tourists. Let shoppers pay using methods that are popular in their countries, including Diners (USA), Alipay (China), Google Pay, Apple Pay, and more.

This helps you welcome everyone, no matter where they come from. And it levels the playing field for shoppers to buy from you, enhancing their experience and making them happier.

Activate dynamic currency conversion

International sports fans also want transparency when making purchases. They want to know exactly how much they’re spending. 

To build trust with shoppers, you can activate our dynamic currency conversion solution for your in-person payments. It gives your shoppers the choice to pay in their home currency or the local one.

You can change the payment amount to a currency your shoppers understand so they have a clear frame of reference. They don’t have to do the math themselves. It’s automatically done on the payment terminal. 

This transparency also reduces the likelihood of returns because shoppers know how much they’re paying upfront.

And you can view all currency conversion transactions on a single dashboard and automatically add them to reports for smooth settlement and reconciliation.

Turn cheers into sales with terminals

Major sporting events are entertainment-driven. Fans don’t just tune in to watch matches and cheer for their favorite teams. They want the whole spectacle, from the opening ceremony inside the stadium to promotional events happening in the hosting city.

Retail plays a role in this. You can have offers, decorations, and merchandise connected to the sports event in your stores. You can also set up activities and run contests with branded giveaways.

But whether you’re offering regular or themed merchandise, part of crafting a memorable experience lies in making the shopping journey as frictionless as possible with in-person payments.

For this reason, contactless payment technology is a game changer for your terminal fleet, helping shoppers spend less time thinking about how they’re going to pay and more time enjoying what they’ve bought from your store. Mobile terminals in particular are a great way to accept more transactions and deal with high volumes during peak times.

We offer a range of options including: 

  • Tap to Pay on iPhone

This turns your staff’s iPhones into a terminal. It helps you deliver seamless and fast journeys, letting shoppers pay anywhere in-store. In other words, your whole store becomes a dynamic point of sale hub. 

  • All-in-one terminals

An all-in-one terminal, like the AMS1, lets you run your business activities while on the go. Your staff can accept payments anywhere, check stock levels instantly, and keep things moving, all from the portable terminal in their pockets.

Throw in tax-free shopping for a winning shot

Getting some money back makes shopping more attractive. That’s why international travelers find tax-free shopping especially appealing. And they'd be happier if they got the refunds right away, without submitting forms at the airport’s customs desk.

Our tax-free shopping solution lets your shoppers claim back the sales tax or the value-added tax (VAT) on their purchases, without going through the paperwork with the authorities. It just happens then and there through the payment terminals.

Turn terminals into vehicles for good

At a time of large-scale coming together, it’s always good to highlight the values that are most important to your brand. Our donations at checkout product, Giving, allows for seamless fundraising at point of sale, making it easy for your shoppers to donate when making purchases.

Terminals can be easily configured and donations live within hours. There are more than 100 nonprofits to choose from in our library, ranging from social causes to environmental initiatives and more.

Winning hearts beyond the stadium with Adyen

Sports fans are a force to be reckoned with. Their passion, loyalty, and numbers influence market dynamics. From their own spending on tickets and merchandise to influencing the purchasing decisions of others, sports fans can dictate trends and shape consumer demand.

Become the go-to destination for fans to celebrate their team’s victories with the help of Adyen’s single financial technology platform.

Our single API approach means you only need one integration to unlock diverse payment methods, dynamic currency conversions, donations, and a range of payment functionalities across geographies and sales channels. 

Our single platform also provides a consolidated view of all your payments and shopper insights across channels. This helps you make data-driven decisions quickly and effortlessly, giving fans a shopping experience that rings with inspiration and satisfaction.

To put it in the words of a customer in The Forrester Wave™ Merchant Payment Providers, Q1 2024 report, “going from a legacy player to Adyen was ‘from a product perspective, like going from a Nokia to an iPhone.’”

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