Discount Events And Experiences Market Overview 2022-2031
Allied Market Research recently published a report, titled, “Discount Events and Experiences Market by Service Type (Driving, Food and Drink, Spa and Beauty, Tour and Travel, Sports, Sightseeing, Theater and Events, Arts and Crafts, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031.“As per the report, the global discount events and experiences industry was estimated at $77.4 billion in 2021, and is set to reach $202.6 billion by 2031, growing at a CAGR of 7.6% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.
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Drivers, restraints, and opportunities :-
The massive penetration of the internet and social media across the globe along with an increase in e-commerce activities has promoted the dissemination of information among consumers. This has prompted the expansion of the global discount events and experiences market. The thriving tourism sector and rise in disposable income will boost the global market trends. A prominent increase in customer spending on recreational and leisure events will help in the acceleration of the global market growth in the years ahead. The rise in the use of digital systems and surge in booking of tickets through online ticket booking websites due to the offering of huge discounts and coupon codes will create new growth avenues for the global industry.
Major market players :-
- Groupon, Inc.
- Eventbrite
- Zoutons
- GrabOn
- Virgin Experience Days
- Activity Superstore
- Buyagift
- Red Letter Days
- GFM ClearComms
- Anschutz Entertainment Group
- CL Events
- Clarion Events Ltd.
- DRPG Group
- Entertaining Asia
Europe is playing a crucial role in the growth of the market
The rise in participation of European population in various sports, physical activities, and other recreational activities has significantly fostered the growth of the discount events and experiences market in the past few years. According to the Eurostat, in 2019, around 44% of the European Union population participated in sports, physical, and recreational activities at least once a week. Furthermore, the rise in trend of online ticket bookings for events and experiences in Europe is playing a crucial role in the growth of the market.
European discount events and experiences market in the forthcoming future
The surging adoption of internet, rise in usage of social media, developments in the tourism industry, increasing inclination of population towards exotic and unique experiences, and higher personal disposable income of the consumers are the major factors that has led to the dominance of Europe in the discount events and experiences market. Moreover, the rise in interests of the people towards sports is expected to boost the growth of the sports segment in the European discount events and experiences market in the forthcoming future.
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Coupons and Codes is expected to boost the growth :-
Advancements such as online booking, phone calls, emails, and video conferences have made communication and transactions significantly cost-effective and easy in real time. Apart from the change in approach and purpose in events and experiences management; technology has been a key turning point in the evolutionary process of event and experiences management. In addition, digital evolution has introduced various creative ways to reach a wide customer base for events. Smartphones, desktop apps, and mobile apps have made events efficient and manageable. It has helped people get all tasks organized, managed, and executed without losing much time and efforts. Furthermore, the rise in penetration of social media and various online ticket booking platforms that offer events and experiences to the consumers at discounted prices through coupons and codes is expected to boost the growth of the global discount events and experiences market during the forecast period.
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TABLE OF CONTENT :-
CHAPTER 1:INTRODUCTION
1.1.Report description
1.2.Key benefits for stakeholders
1.3.Key market segments
1.4.Research methodology
1.4.1.Primary research
1.4.2.Secondary research
1.4.3.Analyst tools and models
CHAPTER 2:EXECUTIVE SUMMARY
2.1.Key findings of the study
2.2.CXO perspective
CHAPTER 3:MARKET OVERVIEW
3.1.Market definition and scope
3.2.Key findings
3.2.1.Top investment pockets
3.3.Porter’s five force analysis
3.4.Market player positioning, 2021
3.5.Market dynamics
3.5.1.Drivers
3.5.1.1.Rising consumer expenditure on leisure and recreational activities
3.5.1.2.Rise in disposable income
3.5.1.3.Increase in sponsorship for events
3.5.2.Restraints
3.5.2.1.High operational cost involved in organizing events
3.5.2.2.Entry barriers due to presence of existing giant players
3.5.3.Opportunities
3.5.3.1.Technological advancements
3.5.3.2.Democratization of information to play a significant role
3.6.Parent-peer market outlook
3.6.1.Parent : Peer Market Overview, 2021
3.7.Market share analysis (2021 and 2031)
3.7.1.By Service type
3.7.2.Region
3.8.Top Impacting factors
3.9.COVID-19 impact on the discount events and experiences market
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