A recent survey by ASVA has shown that, since the lifting of government restrictions on 9th August, trading conditions continue to be extremely challenging for our sector. Survey results indicated that more than a third of attractions are not currently operating at an economically sustainable level. In addition, turnover is down by over 50% at over a third of attractions this year when compared to the same period in 2019, with only one in twenty operating with a turnover at or above 2019 levels.
Visitors are enjoying the new normal, where they can experience quieter, calmer and more enjoyable visits, knowing they will be able to find a seat in the cafe or restaurant and able to browse the gift shop at their own pace. However, this means that visitor attractions have to think differently about their business model, moving away from volume to value.
This webinar, delivered by retail expert and ASVA trade member Paul Ogburn, covered the four key areas that have a direct financial impact on the success of your commercial business. It outlined the actions needed to ensure your business is financially stable and as financially healthy as possible, and was aimed at helping attractions navigate a way through the current challenges, whilst preparing for a successful and sustainable future. Topics covered were:
• Alignment of retail offer with current audience
• Maximising gross profit
• Managing operational costs for greater efficiency
• Improving stock management, reducing investment and stock holding