Downtown Van (Downtown Vancouver Business Improvement Association) is the largest BIA in Western Canada and home to 8,000 members. They are a diverse community spread across 90 downtown city blocks, comprised of property and business owners. Downtown Van manages large-scale downtown events, public spaces, and placemaking activities and sponsors over 50 festivals and events in the downtown core. They believe in the power of collaboration, which is why they’ve partnered with a number of BIAs, organizations, and allied stakeholders to promote and support downtown Vancouver as the vibrant, safe, and inclusive heart of the city.
Downtown Van has access to some monetary spending and visitor data related to people coming downtown. “It told a pretty good story, especially in the middle of the pandemic where we could see as much as a 71% drop in visitors” said Downtown Van’s Advisor, Research & Policy.
However, as the organization grew, they wanted to be the leading voice and tell the story of downtown Vancouver. They identified that to do so, they needed Canadian spending data, specifically data for downtown Vancouver, as it was one of the most important items they could use to indicate how the local economy is doing.
Downtown Van hosts an in-person event to launch their annual research report called State of Downtown, covering topics from spending, visitors, tourism and more. Featured as a data provider for elements of the most recent State of Downtown report, Moneris spending data and analyses were ranked as the most important. “This says a lot to me because there are a lot of great insights and variety compiled in that report,” noted Downtown Van’s Advisor, Research & Policy.
Downtown Van hosts tons of events: sporting events, cultural events, conferences and concerts. The team wanted to validate the real economic benefit and on-the-ground business impact of these events happening in Vancouver using consumer spending data.
“We self-sponsor and put on free public events so when we had the opportunity to really tell the story of the on-the-ground business impact, we purchased the event-impact analysis data,” said Downtown Van’s Advisor, Research & Policy.
The organization is involved in shaping certain policies or agendas to support downtown businesses in Vancouver. “We do a lot of advocacy work around businesses needing help; it’s a really challenging time for businesses across Canada”, identifies Downtown Van’s Advisor, Research & Policy. Therefore, when they are at the table during these strategic decisions and can bring in real data-backed insights, Downtown Van becomes a leader in advocacy for these businesses.
Once the Downtown Van team identified their need for consumer spending data to isolate events within Vancouver, they purchased four datasets of the Moneris Event-Impact Analysis report. They decided to measure four events, a mix of those taking place in the downtown core and events that the Downtown Vancouver BIA was hosting or sponsoring to promote local spending.
The four events that Downtown Van measured spending impact were:
1. The Big Concert: The ‘swift lift’ was a significant global draw, with people flying in from all over the world to see the Bejewelled Popstar’s final three shows of her tour in Vancouver.
2.Canada Day: The Port of Vancouver held a free Canada Day event that Downtown Van helped sponsor.
3. Granville Block Party: Within the heart of the Granville Entertainment District, Downtown Van hosts a free two-day street party.
4. Summer Movie Nights: Downtown Van puts on free outdoor movie nights throughout the summer with all sorts of activations.
After all these events were analyzed, it proved that people are more likely to come downtown for localized events. Larger events such as concerts, as much as they have a huge impact on downtown business, the data proves these visitors are there for the concert and not for the downtown Vancouver experience. “Being able to tell the story proved that different events have different merits to them,” said Downtown Van’s Advisor, Research & Policy.
Downtown Van found value in being able to measure consumer spending lift attributed to the events and no longer having to rely on a ‘guestimate’. It helped their organization justify supporting and investing in these types of events where they would have previously relied on a general assumption of impact.
Analyzing the Moneris data reaffirms that a decision and strategy may be developed as a result. The insights gathered from the data can be leveraged to tell the story of the events that have and will continue to help Downtown Van’s advocacy work.
Downtown Van’s commitment to understanding and enhancing the downtown Vancouver experience goes far beyond event planning. By leveraging real consumer spending data, they are able to validate the economic value of local events, advocate more effectively for businesses, and guide strategic decisions that shape the future of the city’s core. Whether it’s a massive concert or a free movie night, every event tells a story—and now, with data in hand, Downtown Van is making sure that story drives impact.
Check out Moneris Data Services to learn more about consumer spending behaviour and the economic impact of an event to maximize your success.