Coldplay's triumphant gigs in Hull have been brilliant for local businesses: Martyn Kendrick
Two days. One iconic venue. Almost 50,000 fans gathering in East Riding. Globally-renowned British rock band Coldplay made their first ever appearance in the city of Hull last week, and the two-night residency was a boost for local Yorkshire businesses.
Part of Coldplay’s ‘Music of the Spheres’ world tour, the sold-out shows were expected to generate a large uptick in local spending – which will be music to the ears of many regional business owners. The band’s four-night run in Hong Kong this spring is estimated to have generated around £116.5million in economic value, with tourism board data showing overnight visitor spend sat at £533 per person.
And while Craven Park may be a touch smaller than the Kai Tak Sports Park, this is evidence Hull-firms had reason to be excited.
While Wembley and Craven Park may feel like the David and Goliath of venues, Hull certainly has a pedigree when it comes to music. The Housemartins and Everything But the Girl are proud to it city home, and over the years it has hosted the likes of The Beatles, Bob Dylan and Blondie.
In January, the city submitted a bid to become a UNESCO Creative City of Music which, if successful, will bring even more fantastic benefits to businesses and grassroots venues.
However, for now it has been Coldplay’s turn in the spotlight. A shuttle bus service, aptly named “Yellow”, operated between Hull Interchange and Preston Road for Craven Park, meaning fans could easily make their way to and from Hull City Centre over the course of the two days – bringing superfans and their spending right into the heart of the city.
Yorkshire firms are already on the front foot. Lloyds latest Business Barometer – a monthly temperature gauge of confidence levels among the region’s businesses – showed the outlook is positive.
Yorkshire businesses are showing strong growth ambitions, with 47 per cent planning to increase staff levels over the next six months, up eight points on last month. Meanwhile, almost half (48 per cent) are preparing to launch new products and services, showing intent to capitalise.
Concertgoers will be spending fast, but only where businesses are ready. That means having contactless and mobile payment options in place and adjusting opening hours to catch late-night trade. But it's also about transforming the customer experience. 'Phygital' solutions – where physical service is enhanced by digital tools – are becoming more prevalent in hospitality.
One of the biggest frustrations for customers is waiting for the bill, but with today's payment technology that no longer has to be the case. Diners can now scan a QR code at the table, order and pay for food and drinks via an app using a digital wallet and enjoy the ease of table service without queuing. These systems also encourage more consistent tipping, as checkout flows can prompt automatic gratuities. For businesses, it’s a more efficient way to meet demand during high-traffic moments like concert legs.
While Hull takes centre stage, the economic uplift won’t stop at the city limits. Thousands of Coldplay fans flocked to surrounding towns looking for places to dine out, stay, shop and sightsee.
Nobody said it was easy to get opportunities like this in the region, and those who were ready stand to benefit long after the final encore.
Martyn Kendrick is regional director for Yorkshire and the Humber at Lloyds