Experience More for Less

Delivery

This report comes in PPT.

Key Findings

Less money to burn

Consumers and brands are facing a perfect storm, as inflation surges, exacerbated by the war in Ukraine leading to rising food and energy prices resulting in less money available for discretionary items. The Experience More megatrend is transforming and adapting to these pressures whilst ready to capitalise on unprecedented pent-up demand in play post-pandemic.  

Living with less

Despite belts tightening, the desire for experiences remains unabated, with more interest in virtual experiences, whilst #IRL continues to appeal. Living it with less means less money, but also less standard or less barriers. The metaverse is opening up opportunities for brands to creatively explore, breaking down silos and price points to reach younger consumers. 

Product no-frills

Product 3.0 is the new improved product, embracing technology like AR/VR to weave in immersive storytelling to even the most banal of products. It’s about narrowing the focus, eliminating choice and ditching frills and gimmicks to double down on core product values and benefits, all with one eye on the net zero emissions transition.c

Enduring connection

To counter the scourge of brand disloyalty, creating a shared community is an effective way of empowering consumers to share their experiences, whilst deepening the connection with them. Next gen technology like 6G will remove ever more layers of friction for constant connection with consumers in a hyperconnected world.

Less is more

The current climate is challenging where change is constant, however, consumers continue to seek to quality, unique brand experiences, so brands should stand firm in the face of escalating inflationary pressures and deliver more for less. Less does not equate with poor quality but rather serves up an enriching experience that creates an emotional, long-lasting bond.