In the past few years, pivoting has become the rule within the leisure and entertainment sectors. Research from Mintel1 suggests that current economic trends have split consumers into two broad groups: those directly affected by the rising cost of living and those feeling the effects of a strong global dollar. This means that brands in the leisure space have the opportunity to explore increasing segmentation, focusing on both curated luxury experiences and budget-conscious entry points.
Across the spectrum, businesses have also had to innovate for consumers who live in a digital-first world — and increasingly align their behavior with social impact considerations like sustainability.
Here’s how those factors have driven key trends across these industries.