Dave & Buster’s CEO Steve King believes that the company’s successful first-quarter performance can be attributed to a unique customer experience offered at all restaurants.
“I think this is due to the uniquely customizable experience we provide across our four platforms, eat, drink, play, and watch,” said King. “In fact, in our estimation, offering our guest something new with our games, great food, or beverages, along with the best viewing areas for live sporting events, gives us some degree of inflation from casual dining trends.”
Dave & Buster’s distinctive customer value proposition is known as Eat Drink Play and Watch. Dave & Buster’s has 72 stores in 30 states and Canada.
First-quarter sales jumped 17.7% while comparable store sales increased 3.6%.
“I am especially excited by our 17.7% revenue growth, demonstrating that our newer stores are adding significantly to the top line, enabling us to continue to leverage our margins and grow the bottom line at an even faster rate,” King said.
Dave & Buster’s is currently focused on three key areas: New products and promotions; ongoing margin improvement initiatives, and new store openings. The company’s primary targeted guest is 21-to-39-year-olds, a segment known internally as play together young adults, given their interest in exploring new amusements as well as food and beverage offerings. What’s more, they have a passion for sports viewing in a social setting.
Two secondary targets comprise families that visit on a walk-on basis, and corporations having third-party events.
Dave & Buster’s officials plan to continue their strategy of targeting all of these groups with relevant communications. What’s more, they will focus on advertising spend on TV aimed at the play together young adult audience.