Today I decided to visit the PNE for its grand opening this year. It’s one of those traditions here in Vancouver, and the usual controversy is always the price. A lot of people don’t think it’s worth it. I know with many fairs, they charge a lot just for the entry ticket, and then you still have to spend more on food or events inside. For seven dollars, I figured why not and gave it a try.
Not surprisingly, a lot of what I saw today was actually very entertaining. They had the usual Super Dogs show, and there was a new Wizard of Oz on Ice performance. Overall, for seven dollars, I thought it was a good deal. Sure, the food is still expensive, but this feels like one of those once-a-year things. I know there are other events around the area, like some night markets, where you pay a lot just to get in and the whole point is to eat.
With the PNE, you can actually watch shows and enjoy various attractions. It also got me thinking about pricing in general. Some businesses try to charge people an arm and a leg just to stay afloat, but honestly, you’re better off keeping prices reasonable and relying on volume. It’s like that funny but true example people give: if you opened a supermarket, you wouldn’t calculate your monthly expenses and then charge a hundred people thirty dollars each for one apple.
That would be ridiculous. You’d need to sell a lot of stuff and get more people through the door instead of trying to balance your budget with just a few customers. So I think that’s an important lesson when it comes to pricing, especially for events. You should try to attract more people, not scare them away with crazy prices.