RESEARCH
The performing arts, cinema, music concerts and spectator sports are likely to do well during 2013
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oday, more prudent British consumers question their spending priorities and existing brand
relationships. This opens up opportunities for agile and innova- tive companies and brands eager to capitalise on the new mood. Operators of cinemas and thea- tres, music venues and sports stadia could do well, as consum- ers look for affordable pleasures to replace the holidays and short breaks abroad they’re cutting back on. Many sectors within the leisure and
entertainment market have seen lit- tle or no growth during the period of recession and economic weakness over the past fi ve years. On a positive note, though, the state of the UK economy has deterred peo- ple from taking foreign holidays, which has boosted the domestic holidays sector and, with it, the days out attrac- tion industry. The weakness of the pound has served to make the UK an
Mintel’s latest British Lifestyles report
shows that spending is down, but there are opportunities out there for canny leisure operators
attractive destination for overseas hol- idaymakers, however, and the UK’s downgrade and the woes of the euro- zone mean that this will continue Growth in the ownership of technol-
ogy products has helped boost the customer experience in many markets and introduced new users to sectors such as gambling. This will continue as more consumers acquire tablets and smartphones. High youth unemployment has had an impact on leisure sectors such as nightclubs and, to a lesser degree,
Read Leisure Management online
leisuremanagement.co.uk/digital
tenpin bowling, which derive a large part of their customer base from the younger, less affl uent consumers who have been so impacted by austerity measures. With unemployment set to stay at a high level for several more years, little respite is expected for operators in these markets. According to Mintel’s recently published British Lifestyles report, the largest proportion of consum- ers indicate their spending on
entertainment is unchanged when com- pared with a year ago, although more consumers are spending less than a year ago (39 per cent) when compared with those who are spending more (7 per cent). Those claiming to spend more are heavily weighted towards 16-24-year-olds, singles and students, underlining the fact that going to univer- sity or college often results in increased social activity (and spending). Overall, the winners in the leisure
industry during 2013 are likely to be those providing activities which offer
ISSUE 3 2013 © cybertrek 2013
PHOTO: SIMON ANNAND
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