Client resilience boosts reside leisure spend | EY

• Nearly half of UK shoppers (45%) plan to take care of spending on native and reside leisure over the subsequent 12 months regardless of financial uncertainty
• Overall price and worth for cash are the first issues for shoppers, nevertheless premium choices like VIP packages stay fashionable
• Sustainability is more and more necessary, with youthful generations keen to pay a premium for options comparable to regionally sourced meals

At a time of financial uncertainty and cautious shopper spending, a brand new survey from EY has revealed that just about half of shoppers are dedicated to sustaining their spending on native and reside leisure over the subsequent 12 months.

The EY Media & Entertainment (M&E) Pulse Poll, which polled over 1,000 shoppers within the UK, explores the perceptions, attitudes, and intentions of shoppers worldwide in direction of experiential leisure actions, together with reside occasions, sporting actions, and theme parks.

The annual report discovered that native and reside leisure continued to be the most well-liked media and leisure purchases during the last 12 months, with 49% and 48% of UK shoppers respectively indicating their choice. Notably, 45% of shoppers within the UK intend to maintain their spending on reside leisure over the subsequent 12 months, while half (50%) intend to do the identical for native leisure.

When it got here to buying selections, total price and worth for cash had been essentially the most vital components for UK shoppers when choosing an leisure exercise. Despite this, premium services and products, comparable to VIP packages, particular version merchandise, and guided excursions, stay extremely wanted, with 83% of shoppers buying packages for native leisure and 77% for reside leisure.

The function of expertise in enhancing experiences

The survey additionally sheds mild on the rising function of expertise in enhancing the leisure expertise with shoppers throughout all demographics, together with older generations, figuring out expertise as a vital issue when buying tickets. The three digital capabilities deemed most useful embrace contactless funds check-in (86%), digital ticketing (84%), and maps and wayfinding instruments (80%).

The survey reveals that total price and worth for cash are the first issues for 68% of shoppers when selecting leisure actions. High prices are cited as the most important deterrent to enjoyment (54%), surpassing issues about crowded areas and lengthy wait occasions (each at 42%).

Emotional drivers for buying selections

When exploring the motivations behind spending on leisure, 45% of respondents point out private curiosity within the leisure kind as a key issue, whereas solely 9% are influenced by suggestions from family and friends.

Emotional motivations additionally play a big function in buying selections, with 64% of shoppers searching for moments of pleasure and pleasure, and 59% desirous to spend high quality time with family members. Interestingly, youthful shoppers (Gen Z and Millennials) usually tend to cite “improving mental health” as a motivation in comparison with older generations, with 32% of Gen Z and 27% of Millennials highlighting this facet versus 23% globally.

Anna Fry, EY UK&I Technology, Media & Entertainment and Telecommunications Tax and Law Leader, stated: “In the face of economic uncertainty, our survey reveals that consumers remain committed to spending on local and live entertainment, demonstrating a resilient appetite for these experiences. This enthusiasm presents a significant opportunity for entertainment providers. To capitalise on this momentum, it is essential for them to harness the diverse motivations driving consumer choices and to leverage technology effectively, ensuring they deliver exceptional value and engagement that resonates with today’s audiences.”

Sustainability as a key consideration

Sustainability is one other key consideration for shoppers when buying leisure experiences. The options they’re most keen to pay further for embrace regionally sourced meals (61%) and contributions to native communities (60%). Younger generations – particularly Gen Z and Millennials – are considerably extra keen to pay further for sustainable options. For instance, 28% of Gen Z and 16% of Millennials are keen to pay for carbon offsetting, in comparison with simply 12% globally. Similarly, 25% of Gen Z and 15% of Millennials worth decrease carbon footprints (vs. 11% globally), and 23% of Gen Z and 15% of Millennials assist water conservation practices (vs. 11% globally).

Martyn Whistler, EY UK&I Client Executive for Media & Entertainment, added: “Sustainability is not only a pattern; it has grow to be a basic expectation amongst shoppers, notably youthful shoppers. Our findings point out that a good portion of shoppers are keen to spend money on leisure experiences that prioritize sustainable practices, comparable to regionally sourced meals and neighborhood contributions. This shift underscores the significance for leisure suppliers to combine sustainability into their choices, not solely to satisfy shopper demand but in addition to foster a extra accountable and resilient trade.”