Thursday, July 13, 2017

Base Your Kid’s Movie Theater Budget On Real Data

Kid at movie theater.

Will a twenty cover your kid’s typical movie theater outing?

It should comfortably do the job in most cases.

How do I know? Whenever a kid carrying a FamZoo card makes a purchase at a movie theater, the transaction is tagged with a Merchant Category Code (or MCC) of 7832. Assuming kids don’t hit the theater more than once a day, I can tally up all the transactions with an MCC of 7832 in a single day for a given (anonymous) kid to see what the total spend for each visit was. Then I can look across all such visits in a time period to get some interesting aggregate data.

Here’s what I found for June, the peak theater month for FamZoo card carrying kids:

The average spent per theater visit was $19.22.

The percentage of visits requiring a five, ten, twenty dollar bill or more were:

$5 or less 8.3%
$10 or less (but over $5) 19.2%
$20 or less (but over $10) 37.8%
Over $20 34.6%

Some other fun facts:

  • 15 years old was the average age for kids making a movie theater purchase.
  • 91 cents was the minimum purchase made in a visit. Weird, what in the heck can you buy for 91 cents at a movie theater?!
  • $81.16 was the maximum spent. Let’s hope some friends were included in that one!
  • 62.8% made just one purchase in the theater, presumably because the ticket was on mom/dad, or they stayed away from the snack bar.
  • The maximum number of purchases in a visit was 7. Wow. Hungry?!

So, if your kid is figuring movie costs into a discretionary spending budget, $20 sounds like a reasonable round number to use per visit. Or, if you’re funding a one-off excursion, you might state up front that anything over $20 is your kid’s responsibility. (It’s the old premium price rule technique.)

Either way, a twenty should cover your kid’s next theater visit.


Want to turn these tips into action? Check out FamZoo.com.

1 comment:

  1. I want to say thank to you people for this great and helpful info. Thanks!!!
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