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%|
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.
Like this tip? Get the next one in your inbox by subscribing here.
Want to turn these tips into action? Check out FamZoo.com.
Post a Comment