Easol, the experience commerce technology company, is set to change the way tickets for events and festivals are resold with the launch of a new integrated resale feature. Launching summer 2023, Easol Resale will also soon be available for events of all sizes across many sectors in the experience industry, from mass participation sports events to wellness retreats and tour operators.
Recent research from Lloyds Bank has warned of a sharp increase in ticketing scams ahead of this summer’s busy events season, with the number of people being scammed while buying event tickets increasing by 128% over the last 12 months. At present, many event organisers work with third-party platforms to resell their tickets. The lack of regulation on third-party resale sites leads to an increased risk of fraud and touting. Revenue lost to ticketing fraud can add up to as much as $30,000 for a single event. Easol Resale offers organisers a secure, first-party resale method, allowing them to bring resale in-house, keeping tickets in a closed loop system. By doing so, organisers can completely remove the risk of ticket fraud by owning all sides of the ticketing process.
Secondary resale platforms are often fan-to-fan marketplaces and allowing the seller to set their own prices, opening fans up to sometimes wildly inflated prices which can damage the event organiser’s brand. Easol Resale enables organisers to set prices that they are comfortable with, ensuring that their customers are never exploited by outside vendors.
Easol Resale allows organisers to manage the full booking process, from initial sale to resale, whilst deciding on their own profit margins, fees and allocations. Their all-in-one booking platform also incorporates key product features that will streamline event operations such as automated ticket transfers and inventory management. This means that organisers can deliver a better service to their customers including no delay between resale and refund, as well as significantly reducing the time they spend on administration.
In contrast to third-party platforms, Easol Resale is hosted within the organiser’s own website, giving them complete ownership of their customer data, which is essential for retargeting and marketing. Organisers will also have access to live data insights that give an overview of how many tickets have been submitted for resale, allowing them to guarantee high attendance at their event by ensuring tickets don’t go unused. Easol’s approach to ticketing eliminates the need for organisers to log in to multiple different domains to oversee operations, providing a more streamlined and user-friendly option for all parties.
Ben Simpson, CEO and Co-Founder of Easol: “With the launch of our new Resale product, we’re proud to be delivering a fairer way to resell tickets that truly benefits the experience creator and puts them in full control of how their event is being sold – as it should be! Our Resale product will support creators to manage everything on their terms like setting their own fees and protecting their customers from risk of any fraud. Our mission has always been to empower experience creators to maximise their potential to grow their business and we’re excited for how this new product can help put the power back into the hands of the creators.”
Easol Resale will become available to all organisers on the Easol platform in Summer 2023.