What Is The Drink Exchange
The Drink Exchange quite literally turns a bar into a stock market for an evening with drinks prices rising and falling every few minutes, based upon what is being sold.
From the customer’s point of view, as they enter a bar they will see a selection of drinks prices on the screens (the trading graphics can be customised to suit specific branding). These prices change every few minutes based upon what they buy! So for example, if Heineken sells, then the price rises. If no one is buying Bacardi, then the price will begin to drop.
On top of this, we have the MARKET CRASHES. These are points during the event when prices hit their minimum. This can be across a number of items, all items, or maybe just one item. The screens flash, triggering customers to buy, and as they do so, the prices begin to rise.
As you can imagine this creates a high energy event, that is great interactive fun for the customer. However, the reason it is so effective, is that the bar is in control of all of the above.
Firstly, the bar is in control of the products floated on the stock market. There is no limit to the number of items but normally just between 10 and 20 lines.
Secondly, the bar is in control of the minimum and maximum prices for each product. For example, if there are lines you wish to sell (maybe short-dated, high margin, or possibly new products) you may want to drop these slightly more than others.
And finally, the bar is in control of those all-important MARKET CRASHES. These are incredibly powerful sales driving tools. For example, traditionally maybe the bar knows that everyone leaves at nine thirty on a Friday evening. Great, so CRASH the market at nine twenty and no one is going anywhere!
Using this unique interactive model, bars can increase the length of time a customer spends in the venue. Whilst they are there, the bar can manipulate buying behaviour – whilst the customer thinks it was their idea to drink a Sherry at 8 o’clock on a Thursday evening. This is how The Drink Exchange significantly increases revenues.
Once signed up, the bar can choose how frequently and when they wish to run events – although most run weekly. It is incredibly easy to setup, it literally takes less than 10 minutes to create an event.
And the clever part, is that the system is integrated into over 100 POS systems globally . This means that the price on the TV’s, match the price on the POS. And all our integrations are fully authorised.
As part of our licenses, either rolling Monthly or Annually, the bar also receives geographical exclusivity – meaning that only one bar in town will be trading their very own stock exchange.
Please do feel free to get in touch with us to discuss further, or receive more information.