Keith Prowse, a hospitality specialist in the UK, has launched a research paper delving into how lifestyle trends and generational dynamics are reframing premium experiences at UK sport and entertainment events.
Keith Prowse has official appointments at The Championships, Wimbledon, Twickenham Stadium, Edgbaston Stadium, The Kia Oval, cinch Championships, Rothesay International Eastbourne and American Express presents BST Hyde Park. The company is part of Levy UK, the sports, leisure and hospitality division of Compass Group UK & Ireland.
The research paper – Beyond The Game – analysed corporate and private clients to understand their motivations in attending a premium experience at sport, entertainment and lifestyle occasions.
The company said that with a positive outlook on corporate marketing spends (source: The IPA Bellwether report, April 2024), and disposable income more likely to be spent on experiences rather than material goods, Beyond The Game highlights clear generational differences nuanced by social circles, the culture and heritage of the event as well as its values and conscientious stance, that are ultimately impacting purchasing and attendance decisions.
Key learnings highlight time as the most crucial asset. 78% of respondents stated they’d rather receive the gift of time as opposed to a physical gift. When choosing an experience, guaranteeing time together is the predominant factor: it ensures that diaries are marked, plans are made, and unlike online get togethers, there’s a firm commitment to put in an appearance.
Premium experiences
Further, the report finds people continue to choose premium hospitality experiences to secure access, sightlines and quality food and drink. Those aged 45+ (Generation X and Boomers) are purchasing premium experiences for business entertaining. Gen Z and Millennials are going premium to guarantee access to a sell-out event and get closer to the event’s talent or headliner. They want memorable moments, shared activities and social likes to underline their personal values through the experiences they choose. The report finds quality time together requires an upscale food and drink offering with no queues and a wider focus on sustainability is another reason to buy.
New forms, formats and fans
The report finds that a new generation of consumers are being offered new formats of sports, immersive activations and music and lifestyle experiences. Conversely the ageing population is healthier and wealthier and, bucking perceptions, music festivals are as in for the over 50s as they are for Gen Z. Another finding is that The Championships, Wimbledon, remains a perennial favourite for all; women’s sport is in distinct and growing demand; and the 18-24 age group are looking in to E-Sports such as Formula-E and Gaming.
The company shared that Beyond The Game reflects and draws on growing disparity in workers and consumers ages and how new values, interests and social dynamics are reframing the experience economy. For the full report click here.
“Analysis of purchasing data revealed shifting trends, prompting us to delve deeper into the factors influencing consumer choices,” said Sam Coates, head of marketing at Keith Prowse. “Research conducted highlighted a significant impact from generational attitudes. Society is moving away from valuing material possessions as a measure of success, and instead placing greater emphasis on personal fulfilment and experiences. This trend presents valuable insights for corporate businesses, who face an increasingly diverse workforce across generations. In response, we’ll be rolling out new concepts designed to address this evolving landscape.”
