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Shortly after 6:30 on a recent Wednesday evening, a tout yelled, “Buy, buy, buy!” He grabbed two shot glasses, vodka in his hands.
London’s 411 pub typically sells around £3,000 worth of drinks on a weeknight. But on another recent Wednesday, he earned 18,300 pounds, more than $23,000, general manager Antonio Del Monte said.
Young and thirsty people came for Wednesdays on Wall Street, where drink prices fluctuate based on demand, much like the stock market. Attendees line up about three rows at the bar in search of a “market crash,” when an air horn blares amidst the conversation and prices plummet.
“You have to keep your eye on it,” said Emily Bürqvist, a 23-year-old graduate student, nodding at a TV screen showing price changes. She said: “It’s more active than just a pub. And the prices might be better than some pubs these days.”
The 411 night stock market is part of a growing number of activities dubbed ‘competitive socializing’, with games taking center stage in bars across the UK capital. Hospitality experts say the industry took off about five years ago, but was hit hard by the harsh coronavirus lockdowns. The sector exploded as lockdowns eased and groups of colleagues sought new ways to socialize.
These activities are based on a strong tradition of British pub games, including weekly pub quizzes and centuries-old classic competitions such as Skittles and Shub Halfpenny. Most pubs today only have dartboards and pool tables.
But in recent years, dedicated gaming bars have opened across London. There is also a board game bar and a shuffleboard bar. There are multiple dart bars, arcade bars, and mini-golf bar chains. There is an ax throwing bar and a virtual clay shooting bar.
“This is the norm,” says Oyama Valasiya, a 29-year-old financial recruiter. He paused, leaning against the 411 pillar and smoking an e-cig. “When you combine activity with alcohol, people come together.”
Hospitality experts on both sides of the Atlantic say London is the launching pad for new activity bars. Social gaming companies that started in the UK, such as mini-golf, darts, and even cricket, are making their way to the United States.
“London has become a competitive social petri dish,” said James Cook, director of Americas retail research at real estate firm JLL.
British hospitality consultant Kevin Williams said historical precedent for the pub game and shrinking consumer disposable income made London an ideal testing ground for such a concept. People only pay for things that are truly enjoyable.
“If it works here, it will work anywhere,” he said.
Most activity bars are expensive. At Sixes, an augmented reality cricket bar, it costs about $80 for four people to spend 45 minutes in the batting cage at peak times. (This is relatively standard across sports-themed activities.) Drinks are not included.
“It’s fun to do something while drinking,” said Samuel Gilley, 32, after entering the batting cage. “Otherwise we have to sit down and talk to each other,” he said with a laugh.
Wednesdays on Wall Street and similar stock market concepts intentionally have low barriers to entry. Bargain is a game in itself. Participants try to beat their friends for the lowest price.
Graduate student Bürqvist discussed psychology with her childhood friend Olivia Kvan, a 23-year-old graduate student also from Norway.
They got a Moscow Mule for £8.20, or just over $10. But it wasn’t rock bottom, dropping to £7 during the crash. Bürqvist eventually saw the price rise to 11 pounds ($14).
“People like to think they can save more money than they actually do,” she said. “It may seem cheap because of the last price you saw.”
The stock market concept was born in venues across the UK and around the world, including Amsterdam, Barcelona, Cape Town and Beirut. The bar likes its 411 deal with Drink Exchange, which owns the software displayed on the bar’s TVs. The company has not yet expanded to the United States.
Two business school friends from the UK founded the company in the mid-1990s. Founder Chris Dunkley said the company plans to operate in 20 countries by 2025, adding: “Strangely, after 30 years, now is the right time.”
This is appealing to young people struggling to make up for time lost during the pandemic, and it also makes for glamorous social media posts about their nights out. It’s good business for the bar, he said. Even if drinks are cheap, people tend to buy more drinks and stay longer.
“People like gimmicks these days,” said project manager Harry Clarke, 27, who came with recruiter Varasiya.
Mr Clark said the two were more than welcome to sit and chat in the pub, but a hitch would draw a crowd and liven up a sleepy weeknight.
The air horn blared. They winced and widened their eyes at the mass of people rushing into the bar.
Mr. Valasiya scanned the crowd. “It’s cheap, but it doesn’t feel run down,” he murmured.
“But it’s not that cheap,” Mr. Clark protested.
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