Secondary ticketing platform Twickets has seen a 30 per cent adoption rate of its new ‘Make an Offer’ feature that allows potential ticket buyers to bid on a listing up to its face value.
The new functionality allows prospective buyers to submit a bid, which the seller can choose to either accept or reject.
Ticket sellers have to opt into using the Make an Offer feature, which notifies both parties via an email notification when an offer has been made and when it has been accepted or not.
Richard Davies founder of Twickets said: “Twickets sees an average conversion rate of just over two-thirds listings that end up as sales. Many of the unsold tickets come about as the seller actually forgets to reduce their asking price, or is unaware of current market pricing.
“This is particularly relevant when it’s a freely available ticket, or the event is only a matter of hours away.”
The company also noted that measures have been implemented to prevent buyers from “abusing the system” and consistently bidding for the same ticket.
The decision to implement the new feature came after Twickets undertook a user survey at the end of last year to determine the most requested features to be added to the platform.
Davies continued: “There are enhanced benefits to both sides – sellers will now have a greater chance of selling and buyers can get even better value.”