An idea for bookmyshow

Proposal for a Ticket Resale Feature on BookMyShow

Introduction

Recently, I purchased tickets through BookMyShow. Unfortunately, due to unforeseen health issues, I could not attend the events. While attempting to sell or give away the tickets, I faced challenges, primarily because I had booked only one ticket, and most people were looking for multiple tickets. This experience inspired an idea that could significantly benefit both BookMyShow and its users.

The Idea: A Ticket Resale Feature

The proposed system allows users to resell tickets directly through the BookMyShow platform, creating a seamless experience for buyers and sellers.

How It Works

1. If Tickets Don’t Get Resold:

   • There is no loss to BookMyShow, as the ticket is already sold to the original buyer.

2. If Tickets Get Resold:

   • BookMyShow earns three times the convenience fees:

     • From the original buyer during the initial purchase.

     • From the original buyer for enabling a connection with a new buyer.

     • From the secondary buyer during the resale.

Benefits for BookMyShow

1. Increased Customer Confidence: Users will feel more secure purchasing tickets, knowing they can resell them easily through the platform if their plans change.

2. Higher Engagement: Events with high demand or limited seats (e.g., concerts, comedy shows..) could see increased ticket turnover. For instance, two single attendees wanting to sell tickets can list them on BookMyShow, appearing as a pair of tickets available for buyers.

3. Larger Audience Reach: Unlike WhatsApp or Facebook groups that offer limited reach, this feature enables discovery by users from other locations, such as someone traveling to the city on the day of an event.

4. Enhanced Revenue Streams: Beyond the tripled convenience fees, this feature could make BookMyShow more competitive and user-friendly, driving additional customer acquisition.

   
   

Addressing Challenges

1. Preventing Scalping: To curb bulk buying and unauthorized reselling at inflated prices, BookMyShow can regulate resale by capping prices at MRP while earning revenue through transaction fees.

2. Digital Tickets and QR Codes: A system can be implemented to deactivate the old QR code and generate a new one for the secondary buyer, ensuring secure transactions.

3. Physical Tickets: BookMyShow could provide two purchase options:

   • Box Office Collection: Tickets can be resold until collected.

   • Home Delivery: Tickets can be resold until dispatched.

4. For last-minute sales, the platform can facilitate secure connections between buyers and sellers, akin to a moderated marketplace.

Conclusion

This proposed ticket resale feature offers significant advantages for both BookMyShow and its users. It ensures customer satisfaction by providing flexibility and security while simultaneously increasing engagement and revenue opportunities for the platform. By introducing this feature, BookMyShow can set itself apart as a leader in the industry, offering unparalleled value and convenience to its users.

Prepared by:

Vimarsh Shah