The experiential nature of Millennials presents a growing opportunity for businesses according to Eventbrite, and companies having experiential components are in the best position to reach these consumers.
Millennials’ spending shows a greater emphasis on collecting experiences rather than tangible goods with 78 percent saying they would choose to spend money on an experience or event over an object. And 77 percent say some of the best memories of their life have been made at live events; 69 percent say attending events makes them feel more connected to other people. Additionally:
- 69 percent feel time spent out with friends and family is more valuable than nights at home
- 79 percent feel going to live events with family and friends helps deepen their relationships
- 30 percent say they met someone at a live event that became a good friend
The documentation and sharing of the experience is also important to Millennials with 60 percent saying they posted in the past year about their event attendance and experiences.