The Masters Are The Masters Of Pricing Food
There’s nothing quite like The Masters. Going down to Augusta Country Club and seeing the world’s best golfers battle for a green jacket is a once-in-a-lifetime experience. Millions of viewers, regardless of their golfing knowledge, are closely tuned in at home. However, there is something else that is just as capable as taking golf fans’ breath away: the concession prices. Spectators are blessed with some of the best value you can find at any sporting event. Even with rising costs due to inflation, they’re still the king of bang for your buck.
Let me give you this example. You arrive to Augusta at 7:00 in the morning. You start your day with a coffee and a muffin. For lunch, you decide to have one of their famous Pimento cheese sandwiches and a beer. You then get the iconic Georgia Peach ice cream sandwich and a beer for the walk. Those five items cost $17.50 in total. You will have just as much fun getting concessions as you will watching the best from the PGA and LIV go head-to-head. But how is this possible?
Simple Economics
Augusta Country Club is one of the wealthiest golf courses in the country. Naturally, they can take the losses of serving cheaper food in order to gain more goodwill from consumers. Steve Salaga, a sports economist and professor at the University of Georgia, explained the reasoning behind the prices back in 2019.
“We have to remember, the total cost of event attendance includes travel and transaction costs, the cost of the ticket itself, as well as any parking, concessions, and souvenirs purchased,” Salaga told FOX Business. “So one way to make the overall experience more appealing to the consumer is to keep the price of these complementary products like concessions low. Not that Augusta has an issue with this, but I think the affordable concession pricing is an appealing aspect of the consumer experience.”
Steve Salaga via Fox Business
One can argue that the low prices help establish The Masters’ reputation as one of the most honored competitions in sports. By lowering costs, and thus increasing access, more and more people have been able to try famous bites like the Pimento Chesse and Peach Ice Cream sandwiches. Frankly, it’s a smart move that not many people are into these days.
Speaking of money, make sure to take a look at what the best bets are in this year’s tournament. Wise men gamble wisely, but even wiser men gamble while eating for pennies on the dollar.
