Summer festivals to drive £1.2bn spend at UK retail
Festival goers will spend over £1.2bn this summer in the UK on food, clothes and merchandise, with adults averaging £67 per day and retailers reaping rewards from ‘pop up’ experimentation.
That’s according to a study commissioned by Barclaycard to mark its partnership with Live Nation and AEG at eight music festivals across the UK.
The credit card giant polled 2,000 adults and found that 36 percent plan to attend at least one festival in 2019.
Food is the biggest daily spend, averaging at £46, with Thai (16 percent) and fish curry (15 percent) preferred to the traditional burger and beer.
An adventurous six percent will try insects onsite, while eight in every 10 festival goers will purchase something unique which can’t be bought elsewhere.
Four in 10 even prefer to shop at live entertainment events than online, or on the high street – with a third considering these event better places to uncover new trends.
And just under half of those polled prefer the unusual product offering laid out on stalls, and 41 per cent feel more connected to the products they buy at a live event.
Making memories is also increasingly important to Brits when deciding how to spend their money, with many keen to take away something extra from their festival experience.
Four in ten (41 per cent) also said they feel more connected to the products they buy at a live event, over those made on the high street or online.
200 merchants were also polled by Barclaycard, with results indicating that festivals are seen as fertile ground to trial new products and ideas, with half testing products which they’ll then later roll out online or in store.
With the festival industry currently worth over £2.46bn and 36 per cent of Brits planning to attend a festival this summer, Barclaycard says live events pose an increasingly lucrative opportunity for new and established brands.
Daniel Mathieson, head of sponsorship at Barclaycard, said: “Pop-up commerce is thriving across the UK festival scene, as brands compete to provide the ultimate fan experience.
”With more ways to engage audiences alongside demand for a deeper connection to the products they try and buy, festivals are becoming a fertile ground for all kinds of businesses to grow.
“In recent years we’ve also seen festivals start to offer dedicated event spaces to brands while providing activations on-site has also become increasingly popular.
”As festival spending looks set to rise, my advice to UK businesses is to explore the sales and marketing opportunities the UK live entertainment scene presents, or risk losing out to more savvy competitors.”