Big Bucks at Music Festivals using Cashless Wristbands.

CashlessWristbands

CashlessWristbands

The Austin City Limits Music Festival in Austin, Texas, will announce this week that ACL Fest will be the latest major festival offering a cashless option for concessions and merchandise purchases.

Beyond ease for fans, the system benefits the promoter, “including the reduction of on-site cash management and expanded analytical opportunities allowing for proper placement of product and inventory management to always give the people what then want, when, and at which location,” Front Gate president Maura Gibson tells Billboard.  She adds that the impact on sales at Lolla was “significant,” with the fest experiencing substantial per cap growth year-over-year. “One-third of the increase is directly attributable to cashless,” she says, adding the rest of the increase could be be related to indirect cashless benefits like faster, more efficient ordering.

On average, 20 percent more is spent when attendees pay with the new wearable technology.

Read more at Billboard.com

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