Some Intriguing Insights from IAAPA/LaneTerralever Leisure Consumer Trends Report
Here are some intriguing insights from IAAPA/LaneTerralever’s Leisure Consumer Trends Report for 2024.
IAAPA in partnership with LaneTerralever did a national research study in the U.S. to better understand how today’s visitors think and what attraction operators can do to attract, delight, and retain them now and for years to come. LaneTerralever surveyed a panel of 1,497 U.S. participants ages 18 to 70 (750 local attractions visitors/750 destination attractions visitors).
The report looks at the differences in visitor behavior, preferences, and expectations across different generations, from Gen Z to Boomers. The study covers areas such as pre-visit, on-site, post-visit experience, affluent vs. non-affluent visitors, local and destination attractions, sentiment going into 2024, different attraction types (including theme parks/ amusement parks, zoos/aquariums, museums/ science centers, water parks, and family entertainment centers), the role of sustainability and edutainment in driving visits.
After reading through the report here are just some of the intriguing insights I discovered.
IAAPA predicts that consumer spending in the North America theme and amusement park market will increase to $32 billion in 2024, surpassing the pre-pandemic level.
This is an encouraging insight that we are projected to get back to the pre-pandemic level. It’s clear the world wants to get out and travel and experience new things.
Over the past decade, consumer brands like Mattel and Hallmark and experiential brands like Meow Wolf have entered the “experience business,” and we expect this trend to continue.
I definitely feel we are in the era of brands like Mattel and Hallmark utilizing experiences to grow their audiences. I expect a lot more brands to try and pull off the Disney & Universal model on a smaller scale. I’d expect more pop-up experiences in 2024 as well. A prime example of a brand entering the experience business is Netflix. Joining the experience business has tremendous upside for brands, let’s see which ones are smart enough to capitalize on it.
93% of all visitors are planning to visit the same amount or more in 2024 compared to 2023.
Once again this is an encouraging sign for the entire experience industry. Pent-up demand from the pandemic is continuing at a high level.
75% of destination attractions visitors are willing to pay beyond the typical admission price for shorter wait times.
This makes a lot of sense, and I wonder if this will open the doors for more theme parks to do special hours at a higher cost, just so guests can experience shorter wait times.
Visitors to California (13%), compared to visitors to Florida (2%), are more likely to pay 25% more to skip the line.
I always assumed this but I’m glad this study actually lends credence to my own personal theory. Just speaking from a Disney standpoint it seems like Walt Disney World fans still remember the days of free FastPass so they aren’t as inclined as Disneyland fans to put up money to skip the line.
Word-of-mouth is the most effective marketing tactic for older visitors (68% Boomers and 56% Gen X). Social Media ranked as the top driver for Young Millennials (48%) and Gen Z (52%) visiting local attractions.
This stat speaks for itself. Word-of-mouth and social media play crucial roles in driving folks to your experience.
67% of Millennials will pay more for unique experiences (compared to 36% of Boomers and 49% of Gen X).
I honestly thought Gen Z would’ve been featured in this data point. Gen Z seems more willing to pay for unique experiences. Yet I am not shocked Millenials are leading the way here.
33% of destination visitors said seasonal/ annual passes allow them to go more frequently than they would have, but 30% said they rarely have enough time to get the value out.
Seasonal/annual passes are blessings and curses. They allow you to go more often but still, you sometimes don’t get to take full advantage of them.
The wild success of experiences created around the Barbie movie or the Taylor Swift Eras tour shows that the definition of “experience” is way more than just a visit to an amusement park or museum these days
I love that they made this point in this report. This is going to be a huge trend going forward in the experience and marketing industries. If you can make your product or brand an “experience” it will get more people to come. Both Barbie and the Taylor Swift Eras tour had the advantage of FOMO (fear of missing out) too.
The report featured many more great insights touching on topics such as tech, sustainability, and edutainment. It’s worth a read if you get a chance.
LaneTerralever is a marketing and customer experience agency focused on uncovering customer insights, developing seamless digital experiences, and implementing marketing strategies for attractions and entertainment destinations across the country.
You can download the Leisure Consumer Trends Report here:
For more from LaneTerralever you can visit their website where they have published various reports:
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Zach Perilstein is the Editor-in-Chief of the Boardwalk Times
