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New Euromonitor report envisions entertainment venue of the future
POSTED 08 Aug 2019 . BY Andy Knaggs
Technological advances will further redefine what it means to live, work, shop and play for consumers in 2040
– Michelle Evans
Entertainment venues need to undergo technological and design upgrades to prepare them for the experience-seeking consumer of 2040, according to research by Euromonitor International.

Commerce 2040 - Revolutionary Tech Will Boost Consumer Engagement outlines a vision for how consumers might live, work, shop and play in 20 years' time, exploring how technology could change the different consumer worlds of entertainment venues, home and retail.

Consumers are already moving towards demanding personalised experiences, and the report states that consumer expenditure on experiences is set to rise from US$5.8tn (€5.2tn, £4.8tn) to US$8tn (€7.1tn, £6.6tn) in 2030, using leisure, recreation, travel and foodservice as a proxy.

The challenge will be to keep delivering differentiated experiences that keep fans engaged and inspire them to return to entertainment venues event after event.

One concept that could take shape, says the report, is a virtual currency scheme to enhance loyalty in the entertainment industry: fans can earn points for attending events, spending at the venue, and promoting fandom on social media. Using the points, they could buy equipment for their avatar, get a boost in a related mobile game or use them as currency for on-site food, drink and merchandise purchases.

Optimised seating and data-combing technology will allow consumers to buy tickets in areas best suited to their preferences, such as family areas for those with young children, or singles sitting with other singles.

Even more than today, entertainment venues will have flexible designs, enabling them to shift from one event type to another, and operators will be able to adjust a venue's layout to meet the need for different food and delivery options.

The report also lists a number of "key features" that the entertainment venue of the future will have. These include biometric entry for season ticket holders, facial scanning of fans for tailored alerts, social media-worthy locations to make the experience exportable, food and drink delivery options to stationary fans, and AR layers that provide information on players and gamification options.

"Technological advances will further redefine what it means to live, work, shop and play for consumers in 2040," said Michelle Evans, global head of digital consumer research for Euromonitor.

"The digital darlings of the first part of the millennium like Uber, Airbnb and Facebook rose to prominence by leveraging technology to connect
consumers with providers and in turn introduced a new way of conducting business.

"The innovators of next-generation commerce of 2040 will face a different set of challenges. Outlets and venues will require not only a technological upgrade but a redesign to prepare for the consumer in 2040. Entertainment venues will deploy flexible designs to shift from one event type to another, with operators adjusting a venue’s layout to meet the need for different food and delivery options."
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NEWS
New Euromonitor report envisions entertainment venue of the future
POSTED 08 Aug 2019 . BY Andy Knaggs
Technological advances will further redefine what it means to live, work, shop and play for consumers in 2040
– Michelle Evans
Entertainment venues need to undergo technological and design upgrades to prepare them for the experience-seeking consumer of 2040, according to research by Euromonitor International.

Commerce 2040 - Revolutionary Tech Will Boost Consumer Engagement outlines a vision for how consumers might live, work, shop and play in 20 years' time, exploring how technology could change the different consumer worlds of entertainment venues, home and retail.

Consumers are already moving towards demanding personalised experiences, and the report states that consumer expenditure on experiences is set to rise from US$5.8tn (€5.2tn, £4.8tn) to US$8tn (€7.1tn, £6.6tn) in 2030, using leisure, recreation, travel and foodservice as a proxy.

The challenge will be to keep delivering differentiated experiences that keep fans engaged and inspire them to return to entertainment venues event after event.

One concept that could take shape, says the report, is a virtual currency scheme to enhance loyalty in the entertainment industry: fans can earn points for attending events, spending at the venue, and promoting fandom on social media. Using the points, they could buy equipment for their avatar, get a boost in a related mobile game or use them as currency for on-site food, drink and merchandise purchases.

Optimised seating and data-combing technology will allow consumers to buy tickets in areas best suited to their preferences, such as family areas for those with young children, or singles sitting with other singles.

Even more than today, entertainment venues will have flexible designs, enabling them to shift from one event type to another, and operators will be able to adjust a venue's layout to meet the need for different food and delivery options.

The report also lists a number of "key features" that the entertainment venue of the future will have. These include biometric entry for season ticket holders, facial scanning of fans for tailored alerts, social media-worthy locations to make the experience exportable, food and drink delivery options to stationary fans, and AR layers that provide information on players and gamification options.

"Technological advances will further redefine what it means to live, work, shop and play for consumers in 2040," said Michelle Evans, global head of digital consumer research for Euromonitor.

"The digital darlings of the first part of the millennium like Uber, Airbnb and Facebook rose to prominence by leveraging technology to connect
consumers with providers and in turn introduced a new way of conducting business.

"The innovators of next-generation commerce of 2040 will face a different set of challenges. Outlets and venues will require not only a technological upgrade but a redesign to prepare for the consumer in 2040. Entertainment venues will deploy flexible designs to shift from one event type to another, with operators adjusting a venue’s layout to meet the need for different food and delivery options."
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Zoos and aquariums associations have criticised a report by World Animal Protection (WAP) which claims to have identified numerous examples around the world of wild animals being used in cruel and demeaning ways in the name of visitor entertainment.
New York flagship announced for Museum of Ice Cream as operator plans international expansion
The Museum of Ice Cream (MOIC) has announced plans to open several new locations, both in the US and internationally over the next 18 months, starting with its first New York City flagship in Q4 2019.
New visitor centre to be developed at Auschwitz-Birkenau following US$5.5m donation
A donation of US$5.5m (€4.96m, £4.55m) will go towards the development of a new visitor services centre at the Auschwitz-Birkenau Memorial – the museum located on the site of the World War Two Nazi concentration camp in Poland.
Kings Dominion unveils new water attractions for 2020
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COMPANY PROFILE
DJW

David & Lynn Willrich started the Company over thirty years ago, from the Audio Visual Department [more...]
+ More profiles  
FEATURED SUPPLIER

EAS rebrands to IAAPA Expo Europe ahead of 2019 show in Paris
The Euro Attractions Show has been rebranded as the IAAPA Expo Europe ahead of this year's event at the Paris Expo Porte de Versailles exhibition centre. [more...]
VIDEO GALLERY

Polin Waterparks & Pool Systems - Experience the experience
Have you ever wondered how the fun is created? Polin Waterparks is a global market leader in the design, manufacture and installation of waterparks and water play attractions. Find out more...
More videos:
Miko and the Spell of the Stone - Movie Trailer – Red Raion
Trailer Peter Pan - Saving Tinkerbell VR – Red Raion
Red Raion: Meet the Team - Introduction – Red Raion
+ More videos  

CATALOGUE GALLERY
 

+ More catalogues  
DIRECTORY
+ More directory  
DIARY

16-19 Sep 2019

IAAPA Expo Europe 2019

Paris Expo Porte de Versailles, Paris, France
21-24 Sep 2019

ASTC 2019 Annual Conference

Ontario Science Centre, Toronto, Canada
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2019

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