Experience-driven consumers
There’s a cultural shift going on. We’re becoming less materialistic and more ‘experience-alistic’. Driven by Millennials, consumers are spending less time and money on having things, and more on doing things. Read how ‘experience chasing’ is shaping consumption trends.
Bored of stuff
Happiness studies show experiences increase contentment far more than purchases. In pursuit of this, Millennials are fueling an ‘experience economy’. Coffee shops filled with comfortable chairs and new coffee flavours embody the trend. To stay on trend, food and drink companies should consider building a surprise or experience into their products. Try different combinations of flavours or unexpected packaging to add to the experience.
Surprise me
Experience chasers consume with all the senses; seeking to be surprised, engaged and amused. These experiences are shared on social channels to express achievements or show off social events. Think about making a memorable experience of your products through humour, innovation or by celebrating the unexpected.
Fuelled by technology
The old idea that technology would keep us all plugged in and at home hasn’t come true. Far from it. Technology is instead fuelling a growth in live events and experiences. We see it in social feeds full of live music events, endurance contests or great restaurant reviews.
Chasing consumers
Consumers are willing to pay more for products with an intrinsic experience. You only have to look at the demand for higher-priced pop-up versions of hip restaurants. Brands should consider the overall experience, including environment, service and packaging. Use gift packaging, with cues of more luxury and high quality, playful shapes, design or function, artistic cues in design and new functionality.
