Who is leading the revival of experiential events?

The need to go out is going up in a big way, according to new research from IMI.

In a survey of 800 Canadian respondents, 83% intend to go out to an event live over the next 12 months, a net increase of 23% over 2020 levels. Music is the most popular, with 86% intending on attending a live concert, a net spike of 29% over summer 2020.

Intent to get out more is being seen in all demographic to some degree, but across all activity types – live events, sports, travel and shopping – Gen Z has the highest intent, followed by millennials. Intent over the next 12 to 24 months is also being driven by the more affluent set, with household incomes upwards of $100,000 more likely to get out.

The fact that it will be people under 45 with healthy household income are going to be the ones driving participation does present a challenge for brands, however.

“‘Affluent young’ is tough to find, but those are the people who will be out on the street, out at festivals, at concerts, traveling and enjoying life,” says Don Mayo, IMI’s global managing partner.

IMI found that the key is to elevate the live experience, and make it quick: 84% of respondents report they would stop to listen to live music, compared 71% stating they would stop for one minute to talk about a brand and 64% who would enter a contest on-site.

“The optimal time [to try and engage someone] is three minutes,” Mayo says.

Attendees do also continue to crave free stuff, IMI notes: 81% of respondents would stop for a sample on the street, in line with the 83% who would stop at the grocery store.

According to Mayo, when hosting an experiential event, it’s best to give away nothing if you aren’t going to give away something that would be a valuable addition to their life, or at least something good enough that it would be re-gifted. “Do something good for people, and you’ll be rewarded as a brand,” Mayo says.

The numbers are big: 117 million North Americans have made a purchase within 12 months of sampling a product, a year-over-year increase of 8 million. Ninety two million, meanwhile, have made a purchase after an event brand interaction, a year-over-year boost of 12 million.

In Canada, 71% have switched purchase behaviours due to an experiential event partnership.

Lastly, when it comes to sports sponsorships, in a different survey of 8,500 consumers in North America and U.K., 62% of Canadians report having purchased one or more products due to a brand sponsorship of a sports league, team or athlete. That number is 82% for those under 30.

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