pricing and number of days

[tnsherrie]

Hey all,
Has anyone tried pricing of $1.99 for one day rental on Rentrak? Was it a success or failure. I currently offer NR @ $3.89 for 3 days. I have had many customers asked if we would ever consider one day rentals as that is all the time they need it. And yes I do now how several Redbox to compete with within a 5 mile radius from me. Any input or suggestions appreciated.

Sherrie

[tiptoen]

I am not with Rentrak. I get 2.75 for one night and .99 cents for each extra night. I have a Redbox about a mile away and another store about two miles away. The other store is a Rentrak store and is renting new releases for 2.99 for three days. How are they making anything after Rentrak gets their share ?

[CHICAGOTOM]

About 2 1/2 years ago we started charging $2.00 for 1 day or $3.00 for 7 days while using Rentrak. Those prices were a huge success in that our rental revenues went UP by almost 50%  but at the same time it was a failure because my Cost Of Goods on Rentrak titles rose to about 50%.

IMO...IVRs need to be offering both a multi day rate and a lower priced 1 day option but that is very difficult to do when using Rentrak because they do NOT aggregate transactions 

[tiptoen]

My concern is that all the new releases will go out on Friday and not return until Monday, leaving nothing new to rent on Saturday and Sunday. As it stands now if a NR is out for 3 days I get $4.73. If I match the store down the street I would only collect $2.99.
Like you say that means I would need to beef up my depth hoping for higher traffic to make up for the lower price. I'm not sure it's worth it but I may not have a choice as my traffic count if falling.