The FCA (Financial Conduct Authority) has announced it will regulate all sales of popcorn in UK cinemas from next month. The moves comes after watchdog groups recommended customers required financial advice when buying popcorn due to the expense, and the profit margin made by the cinemas.
An average tub of popcorn can cost over £5, depending on which Vue cinema you visit, with the tubs costing around one tenth of that price to make. This gives the cinemas a 1000% margin on all popcorn sales, something even moneylender Wonga branded ‘disgusting’.
The Miller family, from Neston, visited the Vue Cinema on Cheshire Oaks last week with their three children, and were forced to take out a 25-year repayment mortgage with the Halifax to buy popcorn.
Tracy Miller commented to the Bugle:
I think financial advice in cinemas is a great idea. You need expert financial advice for the big purchases in life, such as a house, car or some popcorn.
Anyone buying popcorn at the Vue on Cheshire Oaks is now required to take two forms of ID, a bank statement and a recent utility bill. The Vue recommends you allow at least an hour to purchase your popcorn, as a credit check can take time and you won’t want to miss the start of your film.