GITNUX MARKETDATA REPORT 2024

Experience Economy Industry Statistics

The Experience Economy industry is growing rapidly, with statistics showing increased consumer demand for unique and memorable experiences over material possessions.

Statistic 1

"The global experience economy market size is forecasted to generate $8.2 trillion by 2028."

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Statistic 2

"The experience economy market is expected to grow at a compound annual growth rate (CAGR) of 4.4% from 2021 to 2028."

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Statistic 3

"Nearly 70% of consumers are willing to pay more money for an experience compared to a physical product or service."

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Statistic 4

"Corporate businesses spend more than $500 billion annually on experiential marketing."

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Statistic 5

"By 2027, the experience economy is predicted to represent around 10% of global GDP."

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Statistic 6

"More than 60% of adults have attended an experiential event in the past year."

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Statistic 7

"93% of people believe live events capture their attention more effectively than digital advertising."

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Statistic 8

"79% of businesses use experience marketing to improve their relationship with their target audience."

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Statistic 9

"64% of millennials would rather spend money on experiences and activities than on tangible items."

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Statistic 10

"74% of Americans today prioritize experiences over products or possessions."

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Statistic 11

"Almost all millennials (98%) value experiences so much that they think it helps shape their identity, according to Harris Group."

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Statistic 12

"55% of brands see a higher ROI when they invest in experiences rather than traditional channels."

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Statistic 13

"More than 80% of customers prioritize the experience a company provides over its products and services."

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Statistic 14

"More than 70% of C-suite leaders predict a shift toward experiences, with 53% saying this shift will happen quicker due to COVID-19."

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Statistic 15

"Fifty-nine percent of consumers who have experienced a brand at an event think that it’s more engaging than TV advertising."

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Statistic 16

"Augmented Reality (AR) is expected to grow into a $120 billion industry by the end of 2022, giving birth to newer immersive experiences."

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