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If you’re looking for a thrill, this should bring back some fond memories. There is no greater heart-pounding, scream-inducing joy than riding roller coasters in a theme park.
Many of these bizarre wonderlands were deserted during the epidemic, but they’re now back and ready for business. While the rides may be operational once again, theme parks confront new obstacles.
Inflation is eating away at discretionary expenditure. After all, the more money you spend on petrol and home necessities, the less money you have for an amusement park visit.
That’s the type of problem that makes some of the country’s most popular theme park executives scream, and not in a good way.
As a result, they’re looking for new ways to bring people through the front doors. Six Flags Entertainment Corporation operates roughly thirty parks around the country and has a new CEO, Selim Bassoul, who is stirring things up a little.
Bassoul’s strategy is to boost pricing and market to more wealthy households. According to the New York Post, he told investors on an earnings conference last month that the parks had become “a cheap day center for teens.”
Bassoul would want to see less groups of the under twenty set in parks and more families with children and credit cards. In the past, one-day park permits were as little as fifty dollars, but today cost more than a hundred dollars.
Dining plan rates rose by almost one-third. So far, guests are not pleased with the adjustments. Alternatively, investors.
Attendance at Six Flags parks dropped by more than 20% in the third quarter, according to third party. Meanwhile, some parks saw an increase in visitors following the outbreak. Critics claim that Six Flags did nothing to improve the parks to warrant the price rise.
Employees are also dissatisfied, with many venting on social networking platforms such as Red and Tiktok. The Post reports on bad working conditions, price rises, and other difficulties.
Cedar Fair properties with Jones theme parks, water parks, and hotels have adopted a different strategy to regaining consumers. Dorney Park and Knott’s Berry Farm’s parent firm announced substantial initiatives for next year.
Several of its parks have new rides, revamped features, and renovations. This idea calls for a series of additional roller coasters, including the wild mouse.
According to Theme Park Insider, a spinning family coaster that reaches a height of more than fifty feet. Theme parks require these new experiences and upgrades if they are to thrive, according to Lin Pan Seo’s research.
According to the research, with the new reality of Covid parks in general, they will need to focus less on unloading as many people as possible and more on delivering premium experiences and pricing accordingly.
To put it another way, gaining Theme Park consumer loyalty necessitates the addition of a few experiences that are not for the faint of heart.
What are your thoughts on the new theme park survival strategies? Please let us know in the comments.