With a new year comes new plans for all of us, and FECs are no exception. Many FECs are taking on new solutions and opportunities to attract a new generation of kids into their venues, who have different expectations and interests, with new immersive birthday packages. Find out this year’s changing trends and how to generate up to $150K extra this year.
In what ways have birthday parties changed?:
Changing behavior of the customer:
We are sure you are all aware that Birthday parties are revenue generators for your FEC. Still, at the moment, parents need to be convinced by a new attraction to leave their homes for an entertainment venue, saving their money only for special events for their kids. With an increasing focus on special occasions, birthday parties will become an even more crucial revenue driver in the years ahead.
Stats:
However, IAAPA’s most recent Benchmark Report shows 32% of income from family entertainment centers flows from group sales, with birthday party packages offering the potential for the highest return.
Party Center Software reports that 74% of the birthday party consumer base at FECs comes from the age 4-12 demographic, placing this age group highly valued.
“The market for Birthday parties targeted at 4-12-year-olds is getting bigger and bigger, with premium VR Packages having the potential to turbocharge venues’ revenue,” Says Bob Cooney, Influencer and Location-based VR Expert.
Changing Interests of consumers:
These stats show the actual value of birthday parties to FECs, however, traditional attractions are not enough to draw in kids who have become used to metaverse-style games. Generation SPREE knows what sort of attraction they want, and that is a shared immersive experience.
The Global marketing communications agency Wunderman Thompson polled 4,000 Generation SPREE, asking them what was most important to them in life, with the top three responses being family (71%), friends (43%), and happiness (31%). This polling shows that this generation values their technology along with shared fun experiences.
Followed by the change in values, has been an increasing sophistication of the guest attending FECs, including 6-12-year-olds who have not known a world without immersive technology. All guests, especially kids, yearn for an experience where they act as the ‘main character,’ exploring new worlds and environments with their friends.
How FECs can benefit from this change?:
The upcoming generation of kids is already playing quick-play immersive games at home, so offering them a birthday package with multiplayer free-roam VR is a perfect solution for tapping into the wants and needs of Generation SPREE.
Tip: By adding an additional premium package that includes your new immersive attraction, you benefit from the goldilocks price effect. This effect has the potential to boost your revenue, since consumers, even if not buying the premium package, are encouraged to purchase a middle package which would be more expensive than the product they traditionally would choose. However, this price tactic only works if you have a premium attraction that is highly valued by the consumer, so sadly classic arcade games no longer cut it.
By offering a premium package with an upsell ticket price of an extra $5 per guest, your birthday party revenue could generate up to $150K extra next year (based on a location with 3 party rooms).
There are multiple premium immersive attractions out there for FECs to choose from, however, there are only a limited number of solutions targeted at the lucrative 6-12 demographic that are flexible enough to cater to the whole family. So when choosing your next solution choose an attraction that is multiplayer, immersive and family-friendly.
SPREE Solution:
The SPREE Arena with its growing library of family-friendly games is tailor-made for 6-12 year olds, targeting generation SPREE, unlike other VR solutions on the market. With quick-play games, recommended at 90 seconds per game and no controllers, the SPREE Arena can entertain up to 200 players per hour, helping to maximize revenue and draw in the all-important birthday package guests.
“Kids are always looking for new immersive experiences where they can interact and explore new environments and they are even more excited to share these moments with their friends at birthdays. The SPREE Arena taps into this demand by teleporting guests to a growing variety of active, social and fun worlds”. – Paul Collimore, Commercial Director.
“The best VR attraction for the birthday party market is the 10-player Spree Arena, as it is the only VR attraction that specifically caters to demands of the market” – Bob Cooney