Could Your Biggest Competition Be…A Couch?
New data from Deloitte’s annual Digital Media Trends found that most consumers still aren’t totally comfortable going out for entertainment and 84% are spending more time with online entertainment.
Consumers have a lot of entertainment options competing for their time and money. While Millennials, Gen X and Boomers ranked watching tv shows or movies at home as their favorite entertainment activity, Gen Z was much more likely to rank playing video games as their favorite—as gaming continues to overtake video streaming.
But it’s not just the pandemic keeping consumers at home. In fact, H2R has been monitoring this trend long before the pandemic shook up consumer habits. In PGAV Destination’s 2020 Voice of the Visitor, the trend of Home Basing emerged—encompassing consumers not only traveling closer to home but also an uptick in streaming movies at home rather than going out to movies, etc.
Likewise, another trend H2R has monitored over the years is the growing popularity of virtual and augmented reality.
“Thanks to a number of factors—more affordable hardware, faster internet speeds, and a receptive audience—the growth figures have been striking over the last 4-5 years,” explained Christo Petrov, tech writer at TechJury. “The projections for the next few years are even more awe-inspiring.”
The virtual and augmented reality market is slated to be a $209.2 billion dollar industry by 2022, and the travel and tourism industry is attempting to capitalize on this trend. From airports to attractions, more AR/VR experiences are being incorporated into the guest experience.
From staying at home and watching tv, playing video games or enjoying some virtual reality experiences, competition for consumers’ time and money has never been more fierce. To succeed in this market, you must be adaptable and know your target market inside and out. And perhaps most importantly, offer a guest experience that’s worth getting off the couch.
From our cutting-edge Scout Report to brand studies to ad testing, H2R has the data you need to stand out in today’s sea of competition. Contact us today.
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