Coin lockers (explicit space, explicit time)

Coin/Baggage lockers at subway stations, airports, and the entrances to some tourist attractions, sell explicit space but implicit time. They usually charge price according to the size of the lockers for a calender day. The duration is set so it can easily be predicted. Although time and space usage is already determined per use, we can still apply revenue mangement for better utilization.


1. Japan Raillways Group
http://www.japanrail.com/JR_atthestation_coinlocker.html
Japan Railways have thousands of stations in Japan. Considering that train is one of the most popular transportation of travel in Japan, most stations have coin lockers. The operation differs by stations, but below is the general description of coin lockers provided by Japan Railways. They charge according to size and length of time used. Lockers generally come in three sizes and can be used for maximum three days. After three days the station employee will remove the bag and hold them at lost luggage center. Customers pay for 24 hours use when they first purchase the space, but need to pay more if they get their stuff after beyond 24 hours.

Small
Size: Approximately 13” x 16” x 22”
Price: ¥300 per calendar day
for handbags, briefcases, small tote bags or backpacks.

Medium
Size: Approximately 22” x 16” x 22”
Price: ¥400 per calendar day
for larger bags such as airline carry-on bags.

Large
Size: Approximately 46” x 16” x 22”
Price: ¥500 per calendar day
for large suitcases, or two medium bags These lockers are generally

2. Paris, Gare du Nord (North Train Station) lockers
http://www.enjoy-europe.com/hte/chap17/rail3.htm
Lockers in this station is used in the same manner as the ones in Japan. Of course the size and the price is different. Lockers can be used upto 24 hours, and after that the customer have to pay much more. The most distinguished feature is that this business is not 24/7 for security reason. Also the the custmers may be asked for x-ray their goods. Considering the demand, if the customer can't find a empty locker or their bag does not fit into the jumbo locker, they can use baggage checkrooms and purchase for bigger space for extra fee.

Baby
Size: 36"x15"x12"
Price: €4.00

Junior
Size: 36"x24"x15"
Price: €7.00

Jumbo
Size: 36"x36"x20"
Price: €9.50

3. Northstar Resort at Tahoe
http://www.northstarattahoe.com/info/ski/the-village/seasonal_lockers.asp?category=shop_dine.shop
The North Star ski resort at Tahoe rents lockers on a daily, weekly and even seasonal basis. It is an innovative use of explicit time and explicit space. The customers get a choice of daily, weekly, and seasonal rates to store their ski equipment for a specific period of time. The rates also vary depending on the size of the locker. A single locker costs less than a family locker. The seasonal lockers are even divided into bronze lockers for $199 and platinum lockers for $1800 for the season. The bronze lockers provide the storage space and dryer/sanitizer facility for the ski equipment and boots. The platinum lockers include a membership, a valet service, repairs & polishing for the ski equipment, a members-only lounge, and concierge service. By dividing the seasonal locker into bronze and platinum, and placing the platinum lockers at a more accessible location, The North Star is capturing different markets of the upscale customer and the price sensitive customers.

4. State bank of Bikaner and Jaipur, India
http://www.sbbjbank.com/We_offer/pb_safedeplocker.pdf
The state bank of Bikaner and Jaipur (SBBJ) offers the service of renting lockers to people to keep documents and other valuables such as gold jewelry. The bank identifies customers as high risk, medium risk, and low risk and charges accordingly for the locker. The customers with high risk pay more for the locker. In order to ensure that the customers pay for the locker, they are advised to have an account in the bank in which a minimum deposit is required. The bank can extract the yearly rent from the locker for the account.
When the customer opens the locker, the bank obtains a Fixed Deposit under bank's lien which
covers 3 years rent and the charges for breaking open the locker in case of an emergency. So the bank is really protected against customers not paying the rent or the breakage charges.
These lockers are so popular in India that the bank maintains a wait-list!