Megatrends: Experience More Impact on Consumer Goods and Service Categories

Delivery

This report comes in PPT.

Key Findings

Capturing the moment

The Experience More megatrend continues to resonate with consumers despite the cost-of-living crisis, with a forecast consumer spend of USD583 billion by 2027 although the CAGR will be curtailed at 1.7% over 2022-2027 as inflationary pressures take their toll on discretionary spending.

Anytime, anywhere

The division between digital and physical experiences is blurring ever more and with advances in technology such as decentralised commerce, Web 3.0 and Generative AI, consumers have ever greater control in how they engage with brands. Thinking holistically across the customer journey is critical to ensure a consistent yet authentic brand experience regardless of domain. 

Move over metaverse, spatial computing is here

The release of Apple’s Vision Pro in 2024 is going to be a gamechanger in how consumers engage with the real world, as mixed reality enters the mainstream, so far limited to the gaming community, ushering in a new era of blended experiences.

Partnerships for success

Some of the best examples of Experience More are taking place at the cutting edge of art, fashion, luxury and technology where brands understand that in the attention economy, it is about the power of experiences that have captivating storytelling, exclusivity and cachet for long-term loyalty. Web 3.0 opens up new opportunities to forge deeper emotional connections.

Feel good factor

Fresh, new experiences are scientifically proven to make people feel good with the dopamine effect. The battle for brand loyalty will increasingly be fought on many fronts: enhanced benefits, creating joy, personalised delivery, mindful of positive and negative impacts.