To improve customer experience and increase profits, Finns Beach Club implemented Tappit’s cashless system at their popular New Year’s Music Festival.
In previous iterations of their New Year’s Music Festival, Finns Beach Club operated on a token system. By making the switch to Tappit’s RFID cashless system, Finns:
- Increased spend per head by 30%
- Saw an 443% ROI
- Processed 47 transactions per minute
- Collected valuable data and insights to improve future events
Finns Beach Club, a magnificent all-bamboo hangout and one of Bali’s hottest beach clubs, took the bar higher with a two-day music festival to celebrate the beginning of 2019 with star-studded line-ups. Martin Solveig, Roger Sanchez, Clean Bandit, Khalid and more turned the laze-away beachfront venue to one of the biggest New Year’s parties the paradise island has ever seen.
Challenges and Objectives
Finns Beach Club used to have its own ‘cashless’ system, aptly-named ‘Finns Money’, which works the same way as physical tokens. Finns Money came with its own set of benefits, the biggest being eliminating WiFi dependency at a venue with considerably high footfall, a problem known to many when processing high volumes of card payments.
Beyond network dependability concerns, Finns also wanted to mitigate the risk of theft and fraud, reduce queues and improve customer experience.
Finns were well-informed on the benefits of going cash-free, so it was a no-brainer for them to continue with a ‘cashless’ system. However, the Club was quick to learn that they weren’t reaping the full benefits of cashless by using their analogue system. While tokens had eliminated the need for WiFi and reduced staff cash handling onsite, they weren’t increasing transaction speeds, maximising profit or collecting any useful consumer data.
Increased profits. Going cashless with Tappit has not only sped up service time but also increased the average spend by 30% per head, resulting in an incredible 443% ROI from working with Tappit.
Security. The use of an RFID cashless system decreases the risk of theft and fraud, benefiting event attendees and organisers alike. More than 65,000 transactions were processed securely using the Tappit platform throughout the event.
Reduced labour and human error. With more than 15,000 festival attendees, the Tappit RFID system significantly reduced the amount of analogue work of token counting and reconciliations, which also left less room for human error.
Reporting and insights. Reports pulled through the Tappit system allowed Finns to get significantly more insight into their customers’ behaviour than tokens. For example, Tappit’s reports showed that the plant-based items on the menu were considerably more popular and that rum and gin accounted for 25% of the beverage sales. These learnings can be used to improve future events, both operationally and commercially.
Speed and efficiency. With an average of 47 transactions per minute, the queues were greatly reduced. Both customers and staff both benefited from faster transaction times.