The concession line was the place to be at the Lenovo Center on May 2. Fans rushed to shell out for the viral 28-ounce beer-skate mug: $19 each, or $12 plus the cost of a beverage.
The venue sold out of the souvenir cup instantly: 4,687 pieces, according to WFAN. That’s more than a quarter of the attendance for the game. It won’t return this season, and fans are reselling them for
Satish believes tennis tournaments are the perfect fit for signature cocktails. Each event happens only once a year, giving it a level of rarity, but they run long enough to give it a “food festival” atmosphere, where alcoholic beverages slot perfectly. “People will come at 10 a.m. and they may not leave until 10 p.m.,” he says.
The sales are an obvious win for hospitality companies and their partners—though profit margins for signature cocktails vary significantly, says Stewart, who works as the concessions partner of the BNP Paribas Open. Drinks with plastic signature cups like the Honey Deuce and The Drop Shot have a much larger profit margin since the cost of a hard plastic cup is only about $1, while the price increase could be twice as much as a normal cocktail.
“Say a cocktail is $15 for just a standard cocktail in a disposable plastic cup or at the bar in a regular glass. We see 50 to 100% surcharge when they’re served in some sort of a souvenir or collectible cup, and that covers significantly more than the cost of the cup,” he says.
Collectible cups that have more bells and whistles may have higher prices just to offset the cost of the cup. Such is the case for the $45 cocktail at the Texas Memorial Stadium served in a Yeti tumbler that costs more than $25 on its own.
While signature cocktails and collectible cups have fueled the latest sports-fan merch craze, Satish says the opportunity may extend to the entire concessions menu: “While it may be a cocktail one day, it could be a signature nacho or the next evolution of nonalcoholic beverages.”
Expect the next wave of food collectibles to go way beyond soft serve—or even tiramisu—in a plastic helmet. “We’re always tinkering and thinking about what’s new,” says Satish, “but it has to be done authentic to that specific tournament or venue.”
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