Demand affects concert ticket prices and is among the factors to track when looking to maximize profits. You can resell concert tickets by listing them on platforms with a broad reach. Listing platforms give you access to potential buyers while simultaneously handling fulfillment and customer service. Here are a few tips to help you understand demand when reselling concert tickets:
Identify Demand Influencers
Demand for concert tickets is influenced by factors such as artist popularity, venue capacity, and social buzz. Popular artists that people want to see attract higher demand for their tickets than unknown acts; local and out-of-town artists also have varying demand for their shows.Â
You can look up past attendance of shows to gauge the artist’s popularity before you resell concert tickets. Smaller venues may offer fewer tickets than large ones, which creates scarcity and demand when tickets are first announced. Other factors that affect demand include:
- Scarcity: A lack of tickets may drive up demand, especially when the official listers sell out.Â
- Dynamic pricing: Some concerts use dynamic pricing, where prices fluctuate in real-time, influencing demand and resale prices.
- Initial pricing: Artists may price tickets below market value, creating an opportunity for resale at higher prices leading up to the event.
Gauge Resale Demand
Learning how to gauge demand for resale allows you to adjust pricing and listing timeframes; this helps maximize profits. Check listing platforms for similar tickets, and gauge the current market value for the event. You can look at initial ticket availability, which affects demand at the time of sale. Track interest in an artist using indicators, such as frequent playing of songs, recent tours, streaming charts, and social media activity.
Artists with a recent comeback and limited tour dates may have increased demand for their concerts, so you should monitor trends and sales to identify when tickets sell out. Review the ticket options, including standard and premium VIP sections, to identify in-demand seats. Front rows and VIP seats may have higher demand than general admission zones.
Use Listing Platforms
Reselling concert tickets is easier with a listing platform. These platforms feature robust networks with thousands of individual websites that focus on selling tickets. The websites may have active traffic from people looking to purchase concert tickets. When you list your ticket on a platform, it is immediately posted across all websites; this exposes your offer to many potential buyers.
You can check prices, concert descriptions, and unique perks that tickets for the same event are offering. Track changes in demand and pricing to make timely adjustments. Some listing platforms offer dynamic pricing that allows you to get maximum value for your ticket based on current demand. Prices are automatically adjusted to reflect the demand. Choose platforms with seller and buyer protection, especially for high-demand events.
Match Current Trends
Past tours and historical performance may help predict ticket performance, but real-time insights offer a more accurate assessment. A new song release mid-tour can boost an artist’s popularity, especially if the track goes viral and debuts high on the charts. Interviews, speaking events, and other developments may also affect how tickets perform. Tracking current trends helps give you insight into the demand for specific artists and concerts. Review the performing acts independently, focusing on the main artists and those with higher popularity. Check recent shows at the venue, focusing on how locals respond to specific genres and artists. If demand is low, use discounts, bundles, merchandise, and other special perks to incentivize buyers.
Resell Concert Tickets Today
Selling concert tickets involves posting the offer to a large customer base. You can achieve this with a listing platform; this gives you full control over pricing, description, and other factors. Listing platforms also have a support system to help you create accurate and attainable listings. Resell concert tickets today on a reputable listing platform.
