Graphic: Consumers Want Bolder Experiences, Fewer Things
Consumers are beginning to increase the consumption of trips and unique experiences while de-emphasizing their appetite for big ticket belongings. This trend is becoming more evident during a time when digital products are beginning to outpace the purchase of physical goods. Another shift to note, the continued growth of photo and video based self-expressions over social media. I do believe that improved iPhone / Samsung / LG cameras and increasingly adopted video platforms (Snapchat, Instagram, Periscope, FB Live) will continue to motivate travel to new places and the photography of picturesque moments. Memories are now just as important as things and until Total Recall becomes a reality, experiential consumerism will continue to uptick.
All in all, we will continue to see a fetishizing of travel and the commerce that is associated with it. These burgeoning categories include: tours and activities, alternative accommodations, inspiration (Frommers, Nat Geo, Travel and Leisure, Foursquare).
See more of the issue here.