The Business of Leap Day for Leaplings and Non-Leaplings
February 29, 2016
Leap Day is a fun and quirky opportunity for companies to get some added promotional leverage.
“Leaplings” can get some great freebies on Leap Day, like a personal pan pizza from Pizza Hut or an entrée from the Hard Rock Cafe. All the Best Leap Day Freebies & Deals provides a long list of restaurants extending free offers and discounts.
Other companies are offering a limited one-day special product for leaplings and non-leaplings alike. Adagio Teas has a limited-time offering and says to “stock up now or wait till 2020.” Their Brigadoon Breakfast special Leap Year tea “only appears once every few years.”
The economic impact of Leap Day is big. Companies like Starbucks, with annual revenues of $19.2 billion in 2015, could see $52.6 million in one-day sales. In the casino industry, $978 million could come from one additional day of gaming, based on 2015 global land-based revenues of $357 billion. And in theNative American gaming market, with over 486 casinos and $28.5 billion in annual revenues as of 2014, the economic impact could be around $78 million in one-day revenues.