Eat Cambridge (2014): Economic/Social Impact and Innovation Report

Incorporating the views across 29 food and drink traders, this study attempts to look at the local economic and social impacts of the Eat Cambridge 2014 festival, and explore the ways local traders marketed and innovated in light of, and during, the festival. The study: disseminated via an online survey asked 15 questions, hosts a mix of open (qualitative) and closed (quantitative) questions, and are thus split in to two key areas of this report: - Responses to closed questions (3.0) - Responses to open questions (4.0) Findings from the closed questions identified that there was strong agreement that the festival provided opportunities to (1) expand the customer bases; (2) built business to business (B2B) relationships; (3) provided a platform to market their business; (4) helped consider new marketing techniques, and (5) consider, in future, hosting fringe events to stimulate footfall. Although throughout the closed questions a high number of traders reported an economic boost to their businesses, the open question responses revealed, that for most traders, being part of the festival meant much more than a short-term economic boost. The report highlighted the added complexities, and positive outcomes of being part of such a large networked communicative festival. Indeed being part helped to ‘stimulate new business’; ‘enhance business profile’; reach ‘wider audiences’ and ‘expand’ customer base both locally and regionally to capture new and existing foody audiences. However, the study reported stories of e.g. (1) specific B2B collaborations and formation of networks; (2) festival as a platform to test and launch new products; (3) identifying new ways to engage with customers; (4) promoted a shift in customer buying behavior from ‘chain’ to ‘local trader’ and promote more generally the local food and drink scene in and around Cambridge. Interestingly, there is a strong dominant role for Twitter and social networks within this report and the festival as a whole, and the role in which ‘@EatCambridge’ as festival organisers could-should play in helping to promote local traders in light of and during festival time on Twitter.