Maximising millennial competitive socialising
The overall purpose of this project was to create a new bar concept in Europe tapping into the current ‘competitive socialising’ trend. Research helped us define the market in more detail, understanding the overall market and opportunities within it.
Consumers want an experience now more than ever with 72% of millennials choosing to devote their money to experiences over material items. The pent-up demand for experience comes alongside the decline of the high-street, innovations in tech and the forced social detox created by the pandemic. People are looking to new and diversified leisure offerings that provide an exciting opportunity and chance for human connection.
Our research highlighted that 72% of millennials would rather spend their money on experiences than material items.
Competitor analysis
Some key questions that guided the research into the general competitive socialising landscape included: what is competitive socialising? What are consumer’s expectations in this space? What is being done by operators to create an offer that is enticing? As well as revealing any key figures relating to the size or value of the market, and projected growth.
Demographic research
To understand the overall consumer mindset, secondary research was done to establish consumer behaviours, and habits in the leisure space. Consumers were split into groups and pen portraits were created to build profiles of our target consumer.
Brand positioning
This exercise showed us that the area where venues that are game-led and high-tech is heavily congested. There is an opportunity for a brand to enter this space with a nostalgic look and feel and create a food and beverage offer that feels more premium and considered.
Field research
As part of the ongoing research for this project the team attended a London based competitive socialising conference which gave opportunity to listen to keynote speakers from successful socialising venues across the UK, providing us with first hand insight and inspiration.
The extensive secondary research undertaken allowed us to gain an in-depth and considered understanding of the sector – clearly defining important gaps in the market. The research allowed our design team to create a look and feel which had stand out in the market and would appeal to the designated customer profiles.