Users are focusing less on consumer goods and more on experiences. 76% of all consumers would rather spend their money on experiences than on material items.

Brands are also recognizing this and are allocating more budgets to this area. With 62% of marketers saying, they will spend more on experience-based marketing in the future, we expect a boost in the young market of digitally initiated brand experiences.

We expect a boost in the young market of digitally initiated experiences driven by millenials. 77% of the millennials say some of their best memories are from a live experience. Media articles characterise millennials as following a lifestyle of “nownership”, which places greater value on experiences over owning things.