Ticket Scalping - Supply and Demand
By: Harvin Jassal - October 14, 2014
Ticket scalping is becoming increasingly popular as people sell tickets for events they can't go to, to make a bit of profit instead of making no profit. Tickets can be sold through kijiji or even close to the venue were the event is taking place. Ticket scalping is not only in the situation stated above, but scalpers buy lots of tickets to make a profit. Ticket scalping should not receive the negative attention it is receiving for the following reasons; firstly it is like any business it is trying to make a profit by buying and selling at a marked up price. Lastly you are not forced, it is opportunity cost.
Ticket scalping can become a big risk for the scalpers as they are buying a lot of tickets and selling the tickets at marked up high price.
It seems like easy money; however it can also turn into a big loss. Ticket scalping connects directly with demand because people will want to buy tickets up in till the event is over. Demand is high right before the event; however when the event is over there is zero demand even if the tickets are free. As a business you want the products/items to be off the selves as fast possible, in other words the business wants inventory turnover. Ticket scalping is like every business and it has supply and demand. Ticket scalpers buy tickets and mark them up just like every business and yet they still receive negative attention, but then why can big companies like Wal-Mart buy products and mark prices up. Furthermore tickets scalpers shouldn't get this negative attention, as it is like every business trying to make a profit off tickets bought in bulk...