The health risks of the pandemic placed wellness in the spotlight, and the goal of better wellness overlaps with leisure and entertainment; consumers adopted wellness-oriented leisure in droves. Bicycle sales doubled in 2020, yoga mats flew off shelves, and the meditative qualities of crafting sparked a knitting revival that led to a yarn shortage. As consumers reengage with society they are forced to reconcile the dichotomy of pent-up demand with extreme inflation, forcing entertainment venues to innovate to balance the desire for meaningful, differentiated experiences with the need for cost-control amid consumers’ economizing behavior.”
Jamie Rosenberg
Associate Director – Global Household and Personal Care
Key Topics Covered in this Report
- The competitive environment for both in-home and out-of-home leisure and entertainment
- Novel business strategies and growth opportunities
- Leisure activities that consumers have done recently and expect to do in the coming year
- Ways that consumers are navigating inflation in the marketplace
- Consumers’ leisure and entertainment aspirations
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Overview
- What you need to know
- This Report looks at the following areas
- Definition
- Market context
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Executive Summary
- Top takeaways
- Market overview
- Figure 1: Total consumer spending and fan chart forecast of the leisure and entertainment market, at current prices, 2017-27
- Figure 2: Leisure and entertainment outlook, 2023-27
- Opportunities and challenges
- Opportunity: reposition crafting as a male pursuit
- Figure 3: Arts and crafts, cooking/baking activities, by gender, 2022
- Opportunity and challenge: Reinvent the small performance venue
- Challenge: Inflation is keeping low-income consumers at home
- Figure 4: Inflation-related leisure and entertainment behaviors, by household income, 2022
- Key consumer insights
- Brands need to navigate the gap between consumers’ values and actions
- Consumers need more low-cost choices for out-of-home entertainment
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Market Size and Forecast
- Spending on leisure and entertainment forecast to hit $1 trillion by 2026
- Figure 5: Total consumer spending and fan chart forecast of the leisure and entertainment market, at current prices, 2017-27
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- Figure 6: Total consumer spending and forecast of the leisure and entertainment market, at current prices, 2017-27
- Spending on leisure and entertainment forecast to hit $1 trillion by 2026
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Segment Performance
- Out-of-home leisure is most volatile, but also the main growth engine
- Figure 7: Total consumer spending and forecast of the leisure and entertainment market, by segment, 2017-27
- Out-of-home leisure is most volatile, but also the main growth engine
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Market Factors
- Inflation begins to ease
- Figure 8: Consumer Price Index change from previous period, 2007-22
- Consumer confidence starting to rebuild
- Figure 9: Consumer Sentiment Index, 2022
- The disposable income gap grows
- Figure 10: Monthly and annual changes in disposable personal income, 2007-22
- Inflation begins to ease
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Competitive Strategies and Market Opportunities
- Mintel Trend Drivers
- Leisure spending involves a complex interaction of Value and Wellbeing
- Figure 11: Mintel Trend Drivers: Value and Wellbeing
- Consolidation creates challengers to Netflix and Amazon Prime Video
- Netflix restructures pricing in a bid to stay on top
- Figure 12: Prioritization of low-cost at-home leisure activities, by household income, 2022
- Netflix looks to diversify – explores gaming as a potential revenue stream
- Threat: prepare for the “hidden competition”
- Figure 13: YouTube ad promoting its streaming service
- Cinema: movie theaters take back control
- Opportunity: diversify content and focus on the experience
- Figure 14: Cinépolis Luxury Cinemas
- Figure 15: Desired movie theater concessions, by consumer segments, 2022
- Live events: a tale of two venues
- Opportunity: make performances more personal and community-focused
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- Figure 16: Scene from Playback Theater workshop
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- Figure 17: Pillars of Mintel Trend Drivers: Surroundings, Identity, and Experiences
- Opportunity: make museum exhibits more portable and immersive
- Figure 18: Scene from traveling Beyond Van Gogh exhibit in Dayton, Ohio
- Traditional toys and games: Hasbro and Mattel take different paths
- Figure 19: Mattel and Hasbro toys based on movies, 2022
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The Leisure and Entertainment Consumer – Fast Facts
- Consumers anticipate more live entertainment in 2023
- Consumers want to do more arts and crafts; men are an untapped market
- Inflation impacts leisure and entertainment priorities
- There is a gender divide in at-home leisure and entertainment priorities
- Personal connections, skills and wellness are top drivers
- Millennials are most strategic about leisure planning
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Leisure and Entertainment Participation
- Consumers foresee more live entertainment in their future
- Figure 20: In-home and out-of-home leisure activities conducted in past six months, 2022
- Consumers want to do more arts and crafts; men are an untapped market
- Figure 21: Former NFL player Rosey Grier displays his needlepoint work
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- Figure 22: Arts and crafts, cooking/baking activities in past six months, by gender, 2022
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- Figure 23: Knitting For Radical Self Care
- Consumers foresee more live entertainment in their future
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Impact of Inflation on Leisure and Entertainment
- Inflation has impacted most consumers
- Figure 24: Impact of inflation on leisure and entertainment in past six months, 2022
- Low-income consumers show the biggest behavioral shifts
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- Figure 25: Impact of inflation on leisure and entertainment, 2022
- Inflation has impacted most consumers
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Leisure and Entertainment Priorities
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- Figure 26: At-home and out-of-home leisure and entertainment priorities, 2022
- First and foremost, consumers want to relax while at home
- Figure 27: Ranking of at-home leisure and entertainment priorities, 2022
- Gender drives at-home leisure and entertainment priorities
- Figure 28: Wahoo Kickr Smart Bike Trainer
- Women’s cost aversion highlights an opportunity for brand activism
- Figure 29: At-home leisure and entertainment qualities, by gender, 2022
- Parents are a prime target for skill-building leisure and entertainment
- Figure 30: At-home vs out-of-home prioritization of skill building, by parental status and age of children, 2022
- Figure 31: Children’s garden at the Green Bay Botanical Gardens
- Out-of-home activities should be social, active and adventurous
- Figure 32: Ranking of out-of-home leisure and entertainment priorities, 2022
- Young people seek camaraderie and adventure
- Figure 33: Llanglorse Multi Activity Centre
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- Figure 34: Out-of-home leisure priorities, by age, 2022
- Among lower-income consumers, prioritization of low-cost activities grows with age
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- Figure 35: Prioritization of low-cost out-of-home leisure activities, by age and household income, 2022
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Attitudes Toward Leisure and Entertainment
- Improving relationships, life skills and wellness motivate leisure decisions
- Figure 36: Attitudes toward leisure and entertainment, 2022
- Parents want to strengthen connections and wellness, but have the least time
- Figure 37: Sky Zone Trampoline Park in Chesterfield, MO
- Figure 38: Attitudes toward social and wellness-oriented activities, by parental status and age of children, 2022
- Millennials are most strategic around leisure planning
- Figure 39: Attitudes toward money-saving, by generation, 2022
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- Figure 40: Outdoor leisure and major product purchase, by generation and gender, 2022
- Improving relationships, life skills and wellness motivate leisure decisions
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Appendix – Data Sources and Abbreviations
- Data sources
- Sales data
- Forecast
- Consumer survey data
- Abbreviations and terms
- Abbreviations
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Appendix – The Market
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- Figure 41: Total consumer spending and forecast for leisure and entertainment, at inflation-adjusted prices, 2017-27
- Figure 42: Total consumer spending and fan chart forecast for out-of-home leisure, at current prices, 2017-27
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- Figure 43: Total consumer spending and forecast for out-of-home leisure, at current prices, 2017-27
- Figure 44: Total consumer spending and forecast for out-of-home leisure, at inflation-adjusted prices, 2017-27
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- Figure 45: Total consumer spending and fan chart forecast for in-home media, at current prices, 2017-27
- Figure 46: Total consumer spending and forecast for in-home media, at current prices, 2017-27
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- Figure 47: Total consumer spending and forecast for in-home media, at inflation-adjusted prices, 2017-27
- Figure 48: Total consumer spending and fan chart forecast for in-home leisure products, at current prices, 2017-27
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- Figure 49: Total consumer spending and forecast for in-home leisure products, at current prices, 2017-27
- Figure 50: Total consumer spending and forecast for in-home leisure products, at inflation-adjusted prices, 2017-27
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