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.
2020 will continue to be defined by innovative and disruptive businesses bring fresh ideas about the way people socialise