EPL has basics down pat, but Hong Kong misses the mark yet again
Poor turnout at centenary celebration match boils down to one fact: fans are loyal and the HKFA needs to work much harder to get it right
There's nothing too difficult about the economics of getting bums on seats. If there is a ready market to exploit, soccer fans will come in droves. This helps us understand why Hong Kong fans generally stay away from our stadiums.
In England, doomsayers have jumped on the bandwagon of the BBC's recent survey that reveals fans being exploited by their favourite clubs into overpaying for goods and services. These cynics, according to Oscar Wilde, know the price of everything and the value of nothing.
Does it really matter whether Arsenal charge the priciest match-day tickets in the English Premier League at £97 (HK$1,200) and also for the most expensive season tickets at £2,013? Who really cares if stodgy pies (traditional stadium fair) cost £4.50 and a cup of tea is half that price? The only people who care are those who don't sell enough or fail to make a profit. The rest simply continue because the pricing strategy works and the market sustains it.
If it ain't broke, why fix it? In the EPL, there is a market out there where enough individuals are willing to pay
If it ain't broke, why fix it? In the EPL, there is a market out there where enough individuals are willing to pay. "The attendances so far this season are very encouraging, with more than 95 per cent of seats sold and average crowds in line with last season's, which were the highest in English top-flight football since 1949-50," said Cathy Long, the EPL's head of supporter services.
Soccer is not just about price, but value and market sustainability. Just look at successful companies like Apple. For decades, Apple users have not been put off by paying a premium for the company's products even though there are cheaper alternatives. Apple succeeds because users tend to be loyal fans.