Why Your FEC/BEC Needs Samurai Swords

The Data Speaks: Samurai Swords are a must-have product for any Family Entertainment or Bowling Entertainment Center

In 2017 we’re building a database of Top Performing Prizes to help our customers win at redemption. And no, we’re not talking trends, predictions or what we think is “cool.”

We’re talking real data with real insights.

If we know one thing best at Redemption Plus, it’s that your redemption program plays a critical roll in creating unforgettable guest experiences. It’s the first and last place your guest could visit, meaning it drives incentives during their entire visit to your business. Your guest’s perception of your Prize Value Mix — the right variety of prizes at varying ticket ranges — and Quality of Prizes affects game plays, payouts, redemption rates, and yes…your bottom line.

Including these prizes — we’ll be releasing one every month — in the foundation of your prize (value) mix will not only take your guest’s experience to the next level, but your business.

Now, let’s talk our first Top Performing Prize: Samurai Swords (SKU: 303591).

The data around Samurai Swords revealed they were a gold mine (velocity of sales, volume of orders, performance benchmarks, and feedback from our customers). Here’s what we’ll review (and below is what we found):

1. The Prize Performance Benchmark
2. Why (else) do Samurai Swords sell so well?
3. Who do Samurai Swords sell best to?
4. How do I merchandise Samurai Swords in the best way possible?
5. What Quantity should I start stocking/ordering if I’m not ordering Samurai Swords now?

#1 | The Prize Performance Benchmark

Customers who offer Samurai Swords order and sell (on average) 49 Samurai Swords per month.

At our standard ticket value of 150 tickets, that’s approximately 7,350 tickets a month — or — 88,200 tickets a year. Given that we generally we see FEC & BECs payout 25 tickets to a dollar, we can then easily calculate the revenue potential of Samurai Swords.

To calculate the potential revenue gain from this product, we use a simple calculation:

[Tickets Earned per month or year] ➗ [Tickets paid-out per dollar]. Using the numbers above, it would look like this:

Revenue per month: [7,350 Tickets] ➗ [25 Tickets per Dollar] = $294/month

Revenue per year: [88,200 Tickets] ➗ [25 Tickets per Dollar] = $3,528/year

NOTE: The numbers and calculations above are made utilizing Redemption Plus’ standard ticket, price and payout values. The exact numbers vary business to business in actuality.

If you’re not currently ordering Samurai Swords and have a prize in a similar ticket range that isn’t performing as well, we recommend you make a swap. If you have questions about how or why you should do this, give one of our Value Architects a call or email our SMILE Support Team at smile@redemptionplus.com. They’re all about Samurai Swords this month 👍

NOTE: If you’re currently ordering Samurai Swords but your guests are redeeming less than 49/month, we’ll be releasing tips and tricks the next 4 weeks (as well as in this post) on how you can reach the benchmark and start seeing more $$$.

#2 | Why else do Samurai Swords sell so well?

We also look to Key Performance Indicators (KPIs) beyond the prize’s Performance Benchmark to understand why a prize does so well. Here are some of the KPIs for Samurai Swords:

• A low ticketed item with great perceived value vs. other prizes in the same ticket range (Impulse Redemption Range). Having the top prizes in this ticket range is critical to seeing a high return (read more in next section👇).
• Samurai Swords attract many ages and genders, covering a wide range of guests; boys, girls and adults alike.
• Our Samurai Swords feel realistic, offering an engaging and imaginative experience.
• Build quality exceeds its price range, also increasing their perceived value.
• Trends do help, and there’s a big one: remember Samurai Jack? Yeah…he’s back 🙌.
• Space is precious regardless of the size of your facility. Prizes that take up minimal space to hold maximum volume are a win. Samurai Swords are thin and easily hung, giving plenty of room for other related prizes.
• Samurai Swords aren’t sedentary, meaning they encourage the redeemer to get active. NOTE: Non-sedentary items are a Toy Industry Association 2017 Top Trend. See more 2017 Top Trends at the bottom of this post.
• They give everyone the opportunity to become a Ninja or Samurai. This is obviously the most important one.

#3 | Who do Samurai Swords sell best to?

Although Samurai Swords appeal to all ages and genders, we do see a particular target audience that just can’t get enough of these bad boys (or girls):

The Impulse Player:

• (typically) Ages 5–10
• Prioritizes instant gratification over saving — “I want that prize, now!”
• Often spends all their tickets in one visit

If you have any other questions about the Impulse Player or their favorite Redemption Range, give one of our Value Architects a call or visit PlayerTypes.com to learn about our evolving Player Type System.

#4 | How do I merchandise Samurai Swords in the best way possible?

The first thing we think about when merchandising: Story. What story is your redemption wall telling your guests? What story will they be a part of? We’ll be writing more about this subject later in the month, so stay tuned (you can sign-up for emails below).

Here are some basic tips & tricks for merchandising your Samurai Swords:

• DISPLAY. Hang Samurai Swords on peg hooks for neatness and visibility. NOTE: We recommend you DO NOT use bins to store Samurai Swords. This often looks messy and doesn’t allow your guest to determine the true quality of the prize.
• FACINGS. Make sure one of each color (there are 3) is facing the front so guests can see the varieties.
• PLACEMENT. Samurai Swords are best placed on the lower part of your wall to ensure their primary target customer (see The Impulse Player above) can easily see without taking them out of the line-of-site for other customers.
• PACKAGING. Face all your Samurai Swords the same way. They’ll stay cleanly stacked create an appealing buying experience.

#5 | What Quantity should I start stocking/ordering if I’m not ordering Samurai Swords now?

This is heavily dependent on your type of entertainment center, the size of your redemption area, number of games…you get the picture. Our initial recommendation is to start at the Performance Benchmark mentioned earlier in the post — 49 Swords/month -or- 2 inners — and iterate from there depending on the specifics of your business.

If you’d like to start ordering Samurai Swords today, give one of our Value Architects a call, or email us at smile@redemptionplus.com. We’ll be happy to help you get started.

Or, if you want to start winning with Samurai Swords right now, you can do so by clicking on the button below to order:

Samurai Sword Product Details

• SKU: 303591
• Package size: 4” x 27” x 2.5”
• Categories on SMILE: Novelties, Other Toys & Novelties, Peg Items, Armed & Ready
• Unit quantities: 24/inner, 120/case

We referenced/linked to a couple of videos in our post. In case you wanted to watch them now:

2017 Top Toy Trends

Samurai Jack New Season

Insights Empower is a collection of thoughts & insights to inspire, educate and connect the Family Entertainment & Bowling Center industry. From the team at Redemption Plus, est. 2017 🎉

Visit us at RedemptionPlus.com for more ways to #win.