I like Disney as much as the next Disney fan (heck, I have created a whole business around bringing Disney Experiences to small businesses).
But I would never…..
………ever……….
*************NEVER***************
not in a million years……………
Stand in a line at Epcot for seven hours waiting for popcorn bucket.
But that is exactly what 1000’s of people did back on January 14th of this year.
Now to be fair, it was the first day of the 2022 EPCOT International Festival of the Arts. Guests lined up for perhaps the most anticipated item ever available at an EPCOT festival:
The Figment popcorn bucket. Check out the AMAZING photo’s here.
For the first time in Disney history, a character (Figment), without its own movie, (he/she/it/them/they/whatever) is just in the Journey to Imagination attraction at Epcot.
Even still, I don’t know that I would wait 7 hours for popcorn bucket, even if Angelina Jolie was handing it out.
If you got to the park when Epcot opened at 0900 AM, it would be close to 4:00 PM before you got your bucket, not leaving you much time to do anything else.
With admission and the cost of the bucket, you just dropped 174 bucks for a hunk of plastic with a wholesale cost close to $3.
Great business model
- Sell a 3 dollar item for 174
- Have people line up for 7 hours
- And have those people wait for an entire day, just to give you money.
How can you adapt this strategy?
The Figment bucket is an LTO (not lettuce tomato, onion) but a
Limited Time Offer
As soon as the festival is over, the Figment buckets disappear. Those buckets will join a long line of buckets in a warehouse somewhere. There have been Millennium Falcon buckets, at least 17 different Mickey buckets and a host of other items.
And then there are the pins, the 50th anniversary stuff, the new movie stuff, all the holiday merchandise. All around for relatively short periods of time, never to be seen again.
McDonalds does this with that fake rib sandwich the McRib (yuck!)
This is a strategy that all businesses can employ.
What LTO can you deploy in your business that will create your version of a “7-hour-wait-for-a-$174-popcorn-bucket”?
Let me know what you do.
