Is Taylor Swift Benefiting Your Business?

If
you
think
Taylor
Swift’s
impact
is
limited
to
the
music
charts,
think
again.
From
the
local
coffee
shop
to
the
boutique
hotel
down
the
street,
the
Taylor
Swift
economy,
or
“Swiftonomics,”
is
a
force
to
be
reckoned
with.

Every
time
Taylor
Swift
goes
on
tour,
she
brings
not
just
her
music
but
also
a
tidal
wave
of
economic
activity
that
benefits
businesses
of
all
sizes.
For
small
business
owners,
that
means
her
next
concert
tour
or
album
drop
could
be
an
opportunity
to

grow
your
business.

In
this
article,
we
will
explore
how
the

Fearless
pop
superstar
is
not
just
entertaining
audiences
but
boosting
businesses
across
the
nation;
and
we
provide
tips
for
how
to
use
Swiftonomics
to
benefit
your
business.

This
article
covers:

What
is
the
Taylor
Swift
Economy?

The
Taylor
Swift
Economy
is
more
than
just
album
sales
and
concert
tickets.
It’s
a
phenomenon
that
has
tangible
effects
on
local
economies—a
force
of
nature
that
can
transform
entire
communities
and
turn
the

slow
season
into
a
booming
one
for
local
businesses.

Take
her
“Era’s
Tour”,
for
example.
This
musical
extravaganza
isn’t
just
breaking
records;
it’s
breaking
open
wallets,
too.
To
put
it
in
perspective,
this
tour
alone
has
pumped
billions
of
dollars
into
the
economy,
making
it
one
of
the
most
lucrative
tours
in
music
history.

But
it’s
not
just
about
the
money;
it’s
about
the
ripple
effect
that
Swift’s
tour
has
on
businesses
in
tour
cities.

Key
Figures

Let’s
talk
numbers.

Ready
For
It?

• The
  Era’s
  Tour
  has
  generated
  
  over
  
  
  $5
  billion
  
  for
  the
  US
  economy.
  That’s
  billion
  with
  a
  “B.”
• The
  average
  attendee
  
  spent
  
  $1,300
  per
  show.
• Each
  concertgoer
  spends
  an
  average
  of
  
  
  $300
  on
  extras,
  like
  merchandise,
  food,
  and
  drinks.
• That’s
  not
  just
  money
  in
  Swift’s
  wallet,
  either.
  Cincinatti
  reported
  a
  
  
  $92
  million
  
  in
  net
  new
  local
  spending,
  including
  $2.6
  million
  in
  hotel
  revenue,
  after
  hosting
  two
  Eras
  Tour
  concerts.

So,
while
Swift
is
living
out
her

Wildest
Dreams
and
belting
out
her
hits
on
stage,
businesses
nearby
are
ringing
up
sales
and
reaping
the
benefits
of
Swiftonomics.

How
Has
the
Taylor
Swift
Economy
Impacted
SMBs?

Let’s
look
at
a
few
examples.

Restaurants
near
concert
venues
experience
a
surge
in
customers
as
hungry
fans
flock
to
grab
a
bite
before
or
after
the
show.
So
much
so
that
72%
of
restaurants
say
that
special
events
have
a
positive
impact
on
their
bottom
line.

Hotels
and
AirBnB
owners
in
tour
cities
also
reap
the
rewards
of
Swift’s
concerts,
with
bookings
skyrocketing
during
tour
dates.
Precisely
reports
that
“Taylor
Swift
concerts
increased
hotel
visitation
by
up
to
20%
in
mid-sized
US
cities,
by
bringing
in
thousands
of
out-of-town
visitors.”

This
surge
in
demand
allows
hoteliers
and
AirBnB
owners
to
command
higher
room
rates
and
maximize
their
revenue
potential.

Even
businesses
that
are
not
directly
related
to
the
music
industry
can
benefit
from
the
Taylor
Swift
Economy.
Retailers,
coffee
shops,
and
souvenir
shops
all
report
increased
sales
during
tour
dates
as
fans
indulge
in
shopping
sprees
and
souvenir
hunting.

Funflation

Economists
have
coined
a
term
for
this
effect
on
the
local
economy:
“Funflation.”

Essentially,
fans
are
willing
to
splurge
a
little
more
on
experiences
like
dining
out
or
staying
in
a
fancy
hotel
when
they’re
in
town
for
a
big
event.
And
this
is
good
for
the
bottom
line
of
small
business
owners.

How
to
Take
Advantage
of
Swiftonomics

Here’s
how
SMBs
can
also
be

Masterminds
and
take
advantage
of
the
Taylor
Swift
Economy.

1.
Capitalize
on
the
hype

Even
if
you’re
not
singing
along
to
“Shake
It
Off”
in
the
shower,
you
can
still
tap
into
the
infectious
energy
surrounding
Swift’s
concerts
to
boost
your
business.

Roll
out
the
red
carpet
for
Swifties
by
offering

special
promotions
or
discounts
made
just
for
them.
Whether
it’s
a
free
dessert
with
a
meal
or
a
discount
on
merchandise,
these
incentives
can
entice
concertgoers
to
swing
by
your
business
premises
before
or
after
the
show.

After
all,
who
can
resist
a
good
deal,
especially
when
it’s
paired
with
the
promise
of
an
unforgettable
night
of
music?

2.
Partner
with
local
venues

It’s
all
about
teamwork
when
it
comes
to
maximizing
the
benefits
of
Swiftonomics.
By
teaming
up
with
local
concert
venues
or
event
organizers,
you
can
create
win-win
partnerships
that
benefit
both
parties.

Consider
offering
exclusive
deals
or
packages
for
ticket
holders,
such
as
discounted
meals
or
VIP
access
to
your
business.

Not
only
does
this
incentivize
concertgoers
to
choose
your
business
over
competitors,
but
it
also
strengthens
your
ties
with
the
local
community
and
establishes
your
brand
as
a
supporter
of
the
arts.

Plus,
by
piggybacking
on
the
hype
surrounding
Swift’s
concerts,
you
can
attract
a
steady
stream
of
fans
looking
to
make
the
most
of
their
concert
experience.

3.
Get
creative
with
marketing

Let
your
imagination
run
wild
and
infuse
a
bit
of
Swift
magic
into
your

marketing
campaigns.
Take
inspiration
from
Swift’s
music,
lyrics,
and
persona
to
create
engaging
content
that
resonates
with
fans
and

Hits
Different.

Whether
you
incorporate
her
catchy
tunes
into
your
advertising
or
host
Swift-themed
events
at
your
business,
there
are
endless
opportunities
to
tap
into
Swift
concerts
and
capture
the
attention
of
her
devoted
fan
base.

Consider
hosting
a
Taylor
Swift
trivia
night,
organizing
a
costume
contest
inspired
by
her
iconic
looks,
or
even
creating
a
signature
cocktail
named
after
one
of
her
hit
songs.
You
can
also
promote
these
offerings
through
different

social
media
platforms.

As
you
embrace
the
spirit
of
Swiftonomics
and
think
outside
the
box,
you
can
upgrade
your
marketing
efforts
and
position
your
business
as
a
must-visit
destination
for
Swifties
everywhere.

Taking
Advantage
of
Taylor
Swift
Moments

As
your
business
taps
into
the

Gold
Rush
and
excitement
surrounding
Swift’s
tours
and
other
funflation
events,
you
can
attract
new
customers
and
increase
sales.

And
if
this
is
just
the
sort
of
opportunity
you’ve
been
looking
for
to
expand–maybe
by
opening
a
new
location,
or
adding
new
products
or
services–Biz2Credit
can
help
you
with

financing.
Check
out
the
options
available

here,
or
read
success
stories
from

other
business
owners
and
see
how
they’re
using
financing
to
advance
their
businesses.