德勤全球-Experience-is-everything_32页_2mb

UK Leisure Consumer Report Summary

Core Content

This report provides an in-depth analysis of the UK leisure consumer behavior from 2016 to Q1 2019, highlighting how economic and political factors have influenced spending patterns and future intentions. It explores the evolving nature of leisure consumption, emphasizing the shift towards experiential spending and the role of the sharing economy.

Main Points

• Stable Leisure Spending: Despite political and economic uncertainty, UK consumers have maintained overall leisure spending levels, with 96% spending on leisure in Q1 2019, up from 95% in Q1 2016.
• Experiential Focus: Consumers are increasingly prioritizing unique experiences over material goods. This is driven by the desire to stand out on social media and gain social status.
• Big-ticket Categories: There is a growing preference for larger expenditures in leisure, particularly in culture and entertainment, leisure travel, and live sports events.
• In-home Leisure: The rise of in-home leisure, including takeaway food and digital entertainment, is becoming a significant competitor to traditional eating out.
• Political Uncertainty: 37% of consumers believe current political uncertainty will negatively impact their finances, leading to cautious spending habits.
• Income Pressure: Consumer income has been under pressure due to inflation outpacing wage growth, especially in 2017. This has led to a re-evaluation of discretionary spending.
• Consumer Confidence: While confidence is generally positive, with 42% of consumers feeling optimistic about their finances, 25% are pessimistic. Confidence affects spending on leisure, but not always directly.
• High Street Adaptation: The high street is evolving to integrate physical retail with experiential leisure, with some businesses flourishing by offering unique experiences.
• Sharing Economy Impact: The sharing economy has changed how consumers access leisure, offering more affordable and flexible options. This trend is affecting traditional models of leisure consumption.
• Age and Income Groups: Different age and income groups have varying leisure preferences. Younger consumers (18-34) are more inclined towards in-home leisure and gym/sport activities, while older consumers (over 55) prefer eating out and in-home leisure.

Key Trends

• Eating Out: Remains the most popular leisure category, with 86% of consumers spending on meals out. However, in-home leisure is gaining traction.
• Leisure Travel: Both long and short breaks are showing growth, indicating a continued interest in travel despite economic challenges.
• Culture and Entertainment: Spending in this category has increased, suggesting a strong demand for cultural experiences.
• Health and Fitness: Growing in popularity, especially among younger consumers, with a focus on both physical activity and the social experience of gyms and sports.
• Betting and Gaming: Remains a significant category, with consumers showing a willingness to spend on these activities.
• In-home Leisure: Includes activities like watching media, home entertainment, and eating at home, supported by the rise of takeaway services and digital content.

Future Outlook

• Positive Intentions: Consumers intend to spend more on leisure in Q2 2019 compared to the same period in 2018, with a similar trend to 2016.
• Caution Due to Uncertainty: Despite positive intentions, 30% of consumers expect to spend less on leisure in Q2 and Q3 2019 due to financial and political concerns.
• Opportunities for Innovation: The leisure sector is encouraged to innovate and provide unique experiences to stand out in a competitive market.
• Digital Detox Trends: There is a growing awareness of the negative impacts of digital interaction, leading to a rise in digital detox retreats and offline leisure options.
• E-commerce Influence: The rise of e-commerce and online delivery services has reduced the need for in-person shopping, impacting high street footfall and retail activity.

Conclusion

The UK leisure consumer continues to show resilience and adaptability in the face of economic and political challenges. The shift towards experiential leisure and the influence of the sharing economy are reshaping the market. Future success will depend on businesses that can offer unique, engaging experiences that cater to changing consumer preferences and provide value in a more cautious spending environment.