Could this work for ticket pricing in Scotland?
Baseball remains to this day one of the most popular sports in America and going to a match is a national pastime. Still, some games are a great deal more popular than others. For the New York Mets, a Saturday night game against their cross-town rivals, the New York Yankees, will have a great deal more natural demand than a mid-week game against a low-performing team from
the other side of the country. And yet, for years, the price of a ticket at most baseball matches was based solely on the location of the ticket in the stadium rather than what the actual demand for the game was. How- ever, this is changing across Major League Baseball and nowhere more so than at Wrig- ley Field, home of the Chicago Cubs. Here, yield management, often referred to as ‘dynamic pricing’, is being used to set ticket prices for games. So now, rather than hav- ing a ‘face value’ for a specific seat location within Wrigley Field, prices fluctuate daily based on ‘changing market factors’, as the team website states. So what are these fac- tors? There are two that appear to dominate
their approach to pricing – the day of the week and the opponent. First, prices of tickets rise steadily through the week, with a Monday game averaging just $27 in the bleachers (the section of the stadium where analysis has been carried out), whilst a Saturday game ticket averages around $76. On Sunday, the price falls back to $46. The opponent is also key to dynamic pricing too. Games against the Boston Red Sox and the Chicago White Sox fetch the highest average ticket prices given the prestige of the former and the local rivalry of the latter. Conversely, tick- ets for (apologies to their fans!) games against the Atlanta Braves and the Milwaukee Brewers averaged just $19 and $16. So for those with limited resources, go to a mid-week game against lowly opposition; for those who can’t skip work, go to a Sunday game; and for those where money is no object, enjoy Saturday night against the mighty Boston Red Sox!