A shift towards the “experience economy” is evident as consumers increasingly prioritise in-person activities over acquiring possessions. Consultancy McKinsey's 2026 State of the Consumer report indicates that the global experiences market expanded more than three times faster than spending on non-essential goods between 2023 and 2025.
This trend appears to be a reaction to increased digital engagement, with UK adults spending an average of 4.5 hours online daily in 2025, according to Ofcom. For 18-to-24-year-olds, this figure rose to six hours and 20 minutes, primarily on smartphones. Michelle Evans, Global Lead on Retail & Digital Consumer Insights at Euromonitor, notes a broad consumer rotation from "owning more to experiencing more," a trend that has accelerated since Covid.
Live events exemplify this shift. Taylor Swift's Eras Tour, which generated over $2 billion in direct box-office sales, became the most financially successful tour ever. Similarly, UK professional sports events attracted 79.4 million fans in 2025, an increase of 1.7 million from the previous year, despite a 5% rise in ticket prices. Premier League stadium utilisation rates reached 98.8% in the 2024-2025 season, up from 70% in the early 1990s.
Economist Alex Imas suggests that as AI commoditises digital content, scarcity will relocate to the "relational sector," where the human element adds value. Businesses in travel, wellness, live events, and community-based experiences are seen to benefit from being difficult to replicate digitally.