1 Million Dreams Set To Come True In 2007
Latest research from MINTEL finds that together the nation will take over one million experience days out* this year alone, up from just 548,000 in 2001 (84% growth). What is more, 2007 will see the value of the market smash through the £100 million mark for the first time ever, having risen 53% over the same six year period."The market for experience days out has benefited from the growing number of consumers who are less satisfied with traditional material wealth or simply owning stuff, and are beginning to seek personal fulfilment through experiences and living life to the full. Having tired of the more day to day leisure activities, consumers today are also looking for more intense experiences - both stimulating and relaxing, and are turning to experience days to fulfil this need," explains Matt King, senior leisure analyst at MINTEL.
Fulfilling your wildest dreams
MINTEL's exclusive consumer research shows that one in ten (10%) adults have been on 7 or more experience days out and that the most widely taken experience is driving days, such as go-karting, rallying or quad biking, with almost three in ten (28%) adults having done this. But top of the list of things people would like to do in the future, is a wildlife or nature day out, such as whaling, with well over half (55%) wishing to do this.
"The desire to go on nature days out goes hand in hand with our increasingly 'urbanised' lifestyles and many people's subsequent desire to get back to nature. The rising interest in eco tourism has also played its part in the popularity of these nature days," comments Matt King.
The rise of celebrity chefs as well as a greater interest in good quality food means that dining experiences such as cooking classes, wine tours or murder mystery evenings are also high on people's wish lists (49%) as are pamper days (48%).
The ultimate wish list of the macho (fe)male
Women are getting tougher while men are showing their softer side, when it comes to what days they would like to do in the future. Indeed, women are giving men a run for their money on the driving front, with the same proportion of women (31%) as men (32%) wanting to have a day out driving. The desire to go on adventure days out also proves equally as popular with the girls (26%) as the boys (25%), while today not even the age old male sanctuary of sport is safe, with women (18%) almost as keen as men (22%) on wanting to go on sporty experience days.
But on the flipside, the boys seem more than happy to get in touch with their feminine side, with almost two in five (38%) wanting to go on a pamper day.
Fame - Have you got the X-Factor?
Around one in twenty (6%) of adults have been on a so-called 'fame' experience day, such as day at a recording studio. But this is an area ripe for expansion amongst the under 25s, with over two in five (43%) under 25 year olds wanting to have a fame day in the future.
"The popularity of programmes like the X-Factor where singers are taken from obscurity and thrown into fame and celebrity has undoubtedly fuelled interest in fame days for the under 25s. Once people have been on these experience days there could be scope for introducing blogs, YouTube or MySpace type portals where people can show videos of their recordings and find out what other people think of their performances. This could also easily present yet another route to stardom," comments Matt King.
Jim'll fix it for you
This is a relatively young market that is now starting to mature, but it is a long way from saturation. MINTEL predicts a further 20% increase in the value of the market - set to reach £125 million by 2011, with the number of experiences taken rising to 1.35 million over the same period.
"The future of the market lies in more tailor-made offerings as consumers increasingly need to customise their products and are simply no longer content with accepting what companies attempt to sell them. Operators should look at introducing 'Jim'll fix it' type services especially for high net worth adults. These are often the ultimate cash rich, time poor consumers who will be prepared to pay for unique and personalised luxury experiences," comments Matt King.
Finally, the market has yet to fully engage the grey market. Today's older consumers have greater disposable income and a greater sense of adventure than previous generations. This has been reflected in their approach to travelling abroad - with many now happy to go further afield to more exotic destinations or to go on Gap Years. With the boundaries between experience days out and the travel market blurring, these consumers seem the perfect group to tap into.
* Experience Days Out are organised 'experiences' where a specific activity has been purchased from and organised by a third party or company on the UK or purchased as a day out package directly from a supplier. These exclude overnight stay holidays and short breaks.