Key Takeaways:
- 38% of Americans have no plans for New Year’s Eve, while 30% plan to stay home with family
- Only 13% will attend a party, and just 4% will head to a bar or club
- Finances play a major role in New Year’s Eve plans, especially for those making under $50,000 a year
- Local entertainment venues like Best in Games are adapting to changing economic conditions to stay afloat
- The venue has switched to all-inclusive wristbands and offers promotions to make it easier for families to budget their visits
Introduction to the Challenge
The New Year’s Eve celebrations are approaching, and many Americans are opting for low-key celebrations at home instead of big nights out. According to recent data, 38% of Americans have no plans for New Year’s Eve, while 30% plan to stay home with family. This trend is largely driven by financial concerns, with many people feeling the pinch of inflation and struggling to make ends meet. For local entertainment venues like Best in Games in Sterling Heights, this shift in consumer behavior poses a significant challenge. The venue’s part-owner, Kimberly Elliston, notes that New Year’s Eve is a crucial time for business, and the economic pressure is being felt.
The Impact of Inflation
Inflation is having a major impact on people’s wallets, and many are being forced to make tough decisions about how to spend their money. Daniel Boughner, a Troy resident, is planning to celebrate at home with his family this year, citing the high cost of going out as a major factor. "Inflation is definitely hurting people, hurting people’s wallets," he said. This sentiment is echoed by many others, who are choosing to stay home and celebrate in a more low-key way. For local businesses like Best in Games, this means finding ways to adapt to the changing economic conditions and offer affordable options for families.
Adapting to Changing Economic Conditions
Best in Games has been feeling the economic pressure, with a 25% drop in profit margins since 2020. To adapt, the venue has switched from per-attraction pricing to all-inclusive wristbands, making it easier for families to budget their visits. This move has been well-received by customers, who appreciate the transparency and simplicity of the pricing model. Elliston notes that people are becoming more conscious of where their money is going, and the venue is trying to accommodate this by offering promotions and discounts. For example, visitors to the venue on New Year’s Eve will receive free pizza passes on MLK Day.
The Importance of Holidays for Local Businesses
For local entertainment venues like Best in Games, holidays like New Year’s Eve are crucial for staying afloat. With 350 employees across Best in Games and Zap Zone locations, every holiday celebration is vital for the business’s survival. Elliston notes that the venue is trying to accommodate everything that’s changing in the economy so that it can still offer a good product and continue to grow. The venue’s customer base is starting to see the efforts being made, and Elliston is hopeful that this will translate into increased loyalty and support.
Conclusion and Future Plans
As the New Year’s Eve celebrations approach, local entertainment venues like Best in Games are holding their breath. The venue is offering a range of activities and promotions to attract visitors, including an NYE bash with games, food, and drinks. Despite the challenges posed by inflation and changing consumer behavior, Elliston remains optimistic about the future. "I feel like our customer base is starting to see that and grow with us," she said. To learn more about Best in Games and their NYE bash, visitors can head to the venue’s website at bestingames.com/sterlingheights. With the right approach and a commitment to adapting to changing economic conditions, local entertainment venues like Best in Games can continue to thrive and provide a fun and memorable experience for families and individuals alike.
