The retail world is divided into multiple sectors, but one thing is for sure, there are always benefits that come from one industry to another when they’re located close by.
And building a casino venue is definitely going to have a positive impact on retail enterprises nearby, and here’s why.
The casino industry is thriving
It doesn’t matter what angle you look at it from; the casino industry is thriving, be it land-based, online or on mobile. The likes of Entain are enjoying huge success through PartyCasino and other renowned brands.
And it’s this level of interest, even where land-based casinos are concerned, that is crucial because it will give local retail, especially the type that has perhaps gone a bit stale, a massive lift.
What is vital for retail is footfall. If the level of footfall increases, it will have a positive knock-on effect in terms of custom overall and, hopefully, revenue.
Capitalising on the popularity of casinos by building one locally will naturally help drive the footfall levels in the right direction, especially if it’s retail that can tie into visiting a casino in some way, shape or form, such as clothes shops.
As we mentioned earlier, there are mutually beneficial relationships to explore between retail sectors, especially when businesses are operating close to each other in the local area.
And a way to develop these mutually advantageous partnerships further is to utilise cross-marketing opportunities. If a casino is operating close by, marketing could include the gaming venue giving members X% off at a store in the locale, with the store providing free chips for those who sign up for a store card, for example.
Hiring staff will be easier
Casinos naturally hire multiple staff, from croupiers and security to bar staff and cleaners. And, by increasing the number of jobs on offer when a new casino is preparing to open its doors, it will see local retail businesses close by profit from this.
If people apply for a job at the casino but are unsuccessful, they are more likely to apply at the other companies in the area. So, you could say that while retail benefits here, so does the local community, which is never a bad thing.
It may seem obvious, but some people who visit casinos may not live locally or venture to that specific area often.
But, it could be a case of them thinking, “now I’m here, I may as well visit one of the local shops or retail stores. And, when hundreds of people, and more, have this same notion, it’s going to pay dividends for local retail, especially smaller businesses.
Late night shopping
Casinos, as everyone knows, often open late and stay open all night until the morning. And, you could suggest this is the time period when local retail perhaps doesn’t see as many people coming through the door.
However, because people are coming to the casino, it means there will be a percentage who then visit local retail too. And the more casino gamers, the more retail consumers.