Savvy recently conducted a detailed study looking at experiential marketing. Drawing on the findings from a survey of a representative sample of 1,000 UK consumers, we will be sharing some of the key headlines over a short series of blog posts. In this first post, we take a look at experiential marketing in numbers.
During the past year 57% of UK consumers have engaged in some way with experiential activity, with younger consumers getting involved more deeply and in a broader range of events.
This is important because under 35s – or millennials – are a large group of consumers who are becoming increasingly important for many reasons, not least because they are soon to collectively overtake baby-boomers as the highest spending demographic.
The role of experiences more generally is becoming more important. We find in our research for example, that 64% of consumers perceive experiences as being more important than products while 63% say that experiences are more important to them now than they were two years ago. These numbers are substantially higher amongst the younger generation – 73% and 79% among 18-34 year olds respectively.
There are certain types of business that consumers are more likely to expect to see experiential activity from. Food and drink brands top the table, with experiential activity ideally suited to tasting. Make-up and cosmetics brands feature third, followed by technology and gadgets.
For further details of the research or to get more information about Savvy Live, please contact Taj Sur.