March Madness: Men’s Final Four Impact on Restaurants [2024 data]

The 2024 NCAA Division I Men’s Basketball Tournament kept fans on the edge of their seats from tip-off on March 19 to the championship game on April 8. While some watched courtside and others from their couches, plenty of basketball fans took the excitement to their favorite restaurants and bars, turning game nights into busy nights for industry workers. 

New data from Toast reveals that restaurants experienced significant increases in sales, larger crowds, and later nights, particularly in Phoenix, the tournament's host city. In this article, we’ll break down the data and explore how the Men’s NCAA tournament will continue to drive restaurant traffic in 2025.

Key Takeaways: Men’s NCAA Final Four vs. the average Saturday and Monday in 2024

• Restaurant transactions: Nationwide, restaurant transaction counts were higher by 10% on Monday. In Phoenix, transactions were up by 19% on Saturday.

• Gross Merchandise Volume (GMV): In the U.S. GMV was up by 5% on Saturday but was down by 4% on Monday. In Phoenix, however, GMV was higher by 19% on Saturday and 2% on Monday. 

• Peak restaurant hours: 

  • On Saturday, U.S. restaurants were the busiest at 7 p.m., with the largest spike in transactions at 8 p.m. (+11%). In Phoenix,  restaurants saw their peak hour at 6 p.m., but the biggest surge in transactions happened later at 9 p.m., with a 24% increase.

  • On Monday, most U.S. restaurants were busiest at 12 p.m. and saw their largest transaction increase at 11 p.m.(+ 18%). In Phoenix, restaurants were busiest at 6 p.m., but the biggest spike came at 3 p.m., with transactions up by 23%. 

• Beer sales: U.S. beer sales were higher by 11% on Saturday and 13% on Monday. Meanwhile, Phoenix saw a 21% lift on Saturday and a 17% spike on Monday.

• Nacho sales: Nationwide, nacho sales were higher by 12% on Saturday and 7% on Monday.

🏀How restaurants benefited from the Men’s Final Four

While the tournament kept fans entertained, it also had an impact on the economy. According to WalletHub, March Madness generated an estimated $1.3 billion in annual revenue for the NCAA in 2024. However, some businesses saw an estimated $17 billion in corporate losses due to distracted and unproductive workers.

On the flip side, the tournament was a slam dunk for restaurants across the country, driving a surge in revenue. Let’s dive in.

📈Saturday surge: Transactions in Phoenix were higher by 19%

As the Final Four games took over Phoenix restaurant sales and transactions saw a noticeable boost. Nationwide, GMV was up by 5%, reflecting a broader lift in restaurant spending during the event. However, Phoenix experienced a 19% lift, nearly four times the national average. 

Transaction counts mirrored this trend, rising 7% across the U.S. and soaring 19% in Phoenix, where the final matchups clearly drew massive crowds. According to Sports Illustrated, a grand total of 74,720 fans attended Saturday's game, surpassing the attendance total from the 2023 semifinal round in Houston. Fans who were tuning in at restaurants weren’t just watching; they were fueling up and ordering celebratory rounds. By the end of the night, restaurants in Phoenix were buzzing with the energy of one of the biggest nights in college basketball.

🍟On Monday guests ordered more but spent less

Across the U.S., GMV dipped by 4% on Monday night, which possibly suggests that many diners stayed home to watch the game from their couches. However, the number of transactions actually ticked up by 1%, meaning more orders were placed, but at a lower price point. This could be due to guests opting for cheaper menu items like drinks, appetizers, bar snacks, or smaller entrées rather than full meals. After all, it was a Monday. Maybe fewer rounds were ordered. 

In Phoenix, the trend was even stronger. GMV still managed to grow by 2% despite Monday’s typically slower sales, while total transactions surged by 10%. This suggests that restaurants saw a boost in foot traffic or takeout orders, but customers may have been sticking to budget-friendly choices. 

🕘On Saturday Phoenix experienced a 24% spike in transactions at 9 p.m.

On Saturday, most U.S. restaurants saw their busiest hour at 7 p.m., with transactions peaking at 8 p.m., as they were higher by 11%. Phoenix, however, followed a slightly different rhythm. While the busiest time was still 6 p.m., the real action came later in the night. At 9 p.m., Phoenix experienced a significant 24% spike in transactions, far outpacing the national trend. It seemed diners arrived early for dinner, but the late-night crowd kept the energy high.

On Monday, the pattern shifted to earlier dining. Most U.S. restaurants were busiest at 12 p.m. and saw their largest transaction increase at 11 p.m., up by 18%. In Phoenix, restaurants were busiest at 6 p.m., but the biggest spike came at 3 p.m., with transactions up by 23%. 

🍻Phoenix saw a 21% surge in beer sales on Saturday

This spike in basketball enthusiasm resulted in packed restaurants and empty kegs across Phoenix. While beer sales nationwide were up by 11% on Saturday, Phoenix establishments experienced a 21% jump, demonstrating the Final Four's immediate impact on local businesses. The momentum continued through championship Monday, when beer sales in Phoenix remained strong at 17% above normal, significantly outpacing the national average increase of 13% that day.

For cities hosting major sporting events (looking at you San Antonio), these numbers highlight the substantial economic boost that comes with March Madness. Phoenix restaurants and bars clearly capitalized on basketball fans' demand. Local establishments that prepared with adequate inventory and staffing likely reaped significant benefits from these celebrations.

🧀Nachos are the food of choice for men’s basketball

The U.S. has spoken, and nachos are their top basketball snack of choice. Nacho sales were up by 7% on Saturday and by 13% on Monday, compared to the average Saturday and Monday in 2024. 

Beyond nachos, game-day menus reflected a mix of predictable favorites and a couple of interesting shifts. Saturday guests were hungrier overall, with an 11% increase in bowls and a 12% in hot dogs. Burgers weren't far behind with a 10% increase in sales, and enchiladas spiced things up with a 7% gain. Across the board, nearly every menu item Toast explored enjoyed an upward trajectory. 

Championship Monday, however, told a slightly different story. Wing sales still saw a 6% increase. Hot dogs maintained their standing as a fan favorite with a 5% climb, and fries saw a 3% lift. But not every item made the Sweet Sixteen. BBQ sales saw a 1% decrease, chicken tenders dropped by 2%, and curry dishes were down by 5%.

With the right menu strategy, restaurants can turn championship weekend into a big win for business. Check out Toast’s Menu Engineering Worksheet here. 

Women’s vs. Men’s Final Four

The 2024 tournaments revealed some fascinating shifts in consumer behavior that deserve attention. While Phoenix still saw respectable increases during the men's games, the numbers tell a compelling story when compared to the women's tournament impact:

• Average check size: The women's championship game drove a 17% increase in Cleveland, compared to a 7% decrease for the men's championship in Phoenix.

• Transaction counts: The women’s championship game increased transactions in Cleveland by 25%, whereas the men’s championship in Phoenix only increased transactions by 10%. 

• GMV: The women’s championship game drove a 45% increase in Cleveland while the men only brought in a 2% increase in Phoenix.  

• Beer sales:  The women's Final Four saw a +79% increase in beer sales in Cleveland, compared to a 17% increase for the men’s championship in Phoenix. 

As women's basketball continues to rise in popularity, smart restaurant and bar owners should take note: the most profitable games to promote might not be the ones you've traditionally bet on. Read here for more information on Women’s 2024 March Madness Tournament Impact. 

More upsets, more appetizers

The 2024 Men’s Final Four brought packed sports bars and many, many orders for nachos. With San Antonio hosting in 2025, restaurant operators should be game-ready. Brackets may be unpredictable, but one thing isn’t: fans will be looking for the best place to watch and eat. Restaurants should prepare with special deals, ample staffing, and plenty of seating. Make sure to check out our guide on The Most Profitable Sports Bar Foods.