A new report by corporate hospitality firm Keith Prowse has revealed that 78% of clients would rather receive the gift of time as opposed to a physical gift.

The research paper – BEYOND THE GAME – analysed corporate and private clients to understand their motivations in attending a premium experience at sport, entertainment, and lifestyle occasions.

With a positive outlook on corporate marketing spends and disposable income more likely to be spent on experiences rather than material goods, the research provides fresh insights into how lifestyle trends and generational dynamics are reframing premium experiences at UK sport and entertainment events.

It reveals that when choosing an experience, guaranteeing time together is the predominant factor: it ensures that diaries are marked, plans are made, and unlike online get togethers, there’s a firm commitment to put in an appearance. People continue to choose premium hospitality experiences as it secures access, sites lines and quality food and drink.

The research also highlighted:

• 45+ (Generation X and Boomers) are purchasing premium experiences for business entertaining.
• Gen Z and Millennials are going premium as it guarantees access to a sell-out event and gets them closer to the event’s talent or headliner. They want memorable moments, shared activities and social likes to underline their personal values through the experiences they choose.
• Quality time together requires an upscale food and drink offering with no queues and a wider focus on sustainability is another reason to buy.
• A new generation of consumers are being offered new formats of sports, immersive activations and music and lifestyle experiences. Conversely the ageing population is healthier and wealthier and, bucking perceptions, music festivals are as in for the over 50’s as they are for Gen Z.
• The Championships, Wimbledon remains a perennial favourite for all, women’s sport is in distinct and growing demand and 18-24 are showing their conscientious stance by looking into E-Sports such as Formula-E and Gaming.

Sam Coates, Keith Prowse head of marketing, comments: “Analysis of purchasing data revealed shifting trends, prompting us to delve deeper into the factors influencing consumer choices. Research conducted highlighted a significant impact from generational attitudes. Society is moving away from valuing material possessions as a measure of success, and instead placing greater emphasis on personal fulfilment and experiences. This trend presents valuable insights for corporate businesses, who face an increasingly diverse workforce across generations. In response, we’ll be rolling out new concepts designed to address this evolving landscape.”

For the full report: BEYOND THE GAME