It was a real pleasure to attend today's inaugural (and sold out) Competitive Socialising event - some fascinating insights were presented by real pioneers of this growing trend within the hospitality and leisure sector. Here are some take home points for you to share:

Several stars have aligned for competitive socialising:

  • Shifting consumer mindset - 72% of millennials would rather spend money on experiences than possessions
  • Commercial property opportunity - 90% of UK retail asset landlords look to reposition their offer with a leisure component
  • Advances in technology - 32% of millennials look on social media for inspiration related to leisure activities…"winning is as important as a good Instagram photo"

Further reasons to focus on experience over material goods:

  • A stronger link to "happiness"
  • The quest for "likes"
  • "FOMO" - 2 in 3 millennials suffer "fear of missing out"

And it's not just hospitality..."experiential retail" is set to explode - almost half of space in shops will be dedicated to experience rather than product by 2025.