← External Forces: Demographic, Consumer & Market (all topics)
Experience over ownership
What it is
Spending shifting from goods toward experiences - travel, concerts, dining out, sport, wellness - and from owning assets toward accessing them through rental, subscription and shared use
It is most visible among younger urban consumers with rising discretionary income
Impact on industries
- Drives structural growth in travel, hospitality, restaurants, live events, cinema and organised leisure
- Supports rental, subscription and shared-access models across housing, vehicles, equipment and consumer durables
- Competes directly with durable goods and vehicle purchase for the same discretionary wallet
- Experience spending is highly deferrable, so it falls faster than goods consumption in a downturn
- In India it coexists with strong aspirational ownership of housing and vehicles, so it supplements rather than replaces