Experientialism is the new consumerism. So says Epson in a new report highlighting the need for businesses to provide customers with experiences that trigger emotions and create a powerful connection with brands.
The Experiential Future highlights a growing appetite for new and exciting immersive experiences delivered through large-scale projections, interactive displays, holograms, virtual reality and augmented reality, with 60% of consumers surveyed saying that experientialism will become the future of events, hospitality and leisure.
This belief is shared by all age-groups, including Millennials (68%), Generation Z (58%), Generation X (57%) and Baby Boomers (54%), although older consumers are less willing to pay more for tickets with an experiential element – 17% of Baby Boomers, compared to 57% of Millennials.
Neil Colquhoun, Vice President CISMEA and Professional Displays, Epson Europe B.V., said: “New technologies are drastically changing the way that brands engage, entertain and communicate with their audiences. Our research creates a strong call to action for businesses and attractions to focus on including experiential elements for consumers.”
Caption: Interactive, immersive and playful experiences are a key feature of a new exhibition that surveys the creative and scientific developments within artificial intelligence (AI) being held at World Museum, Liverpool from July 10 to November 1, 2020. Shown for the first time outside London and featuring work from leading scientists, researchers and artists, AI: More than Human explores the relationship between humans and technology and examines what it means to be human in an era of AI, algorithms and machines.
PoemPortraits by Es Devlin.
Photo credit: Tristan Fewings/Getty Images