This is a community resource.
What started as a pandemic response tool, has transformed into an ongoing research collaboration initiative. The goal? To support leaders with facts about the market and their audiences, including motivations, behaviours, and messaging opportunities.
Ten phases of research have been completed in an ongoing study since May 2020. New rounds of research are continuing to provide information on this topic.
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Winter 2023. What did we learn?
Hesitancy is fueled by more than just COVID. Despite higher comfort levels, hesitation to participate in activities is still present for a variety of reasons – the most notable is affordability.
The economics of experience are significant. There is no question that market conditions have suppressed spending in the experience economy, and Albertans are being ‘squeezed’. This alone presents a challenge for organizations to deliver a strong value proportion. But yet, the overall level of spending is still significant.
But wallets are still constrained. Albertans are spending a high portion of their income on basic living expenses which contributes to hesitancy and selectiveness on activity spending. And while Albertans have indicated they are willing to spend, the activity and experience has to be ‘worth it’ for them.
Expectations are high and experience matters. Because both dollars and expectations are squeezed, audiences have indicated that their threshold for poor experiences is quite low. In fact, about two-in-ten (both markets) indicate they will not return to an experience if it falls flat. In short, there is a little room for error.
The importance of collaboration. The value of these types of offers appears to be two-fold: it provides an opportunity to engage audiences with a unique combination of experiences that may not normally be combined, and it can potentially show value via lower cost.
Full report for Winter 2023 Building Experiences in the New Economy can be accessed here:
To request access to data tables, click here.
Spring 2022. What did we learn?
We are still a non-committal audience
And not all activities are created equal
Shared experiences, emotional escape and well-being remain key motivations
Audiences also need to hear about benefits of involvement
Recognize the change in buying habits
Full report for Spring 2022 Building Experiences in the New Economy can be accessed here:
To request access to data tables, click here.
Fall 2021. What did we learn?
Comfort wavers yet again under the weight of another wave of cases, hospitalizations and loss of life.
Consumer mindset is tense, and consumers are feeling frustrated and organizations must be prepared to engage a market in this mood.
Consumer choice is being driven by health measures that assure them of safety. Vaccine rates are helping mute concerns about safety and vaccine mandates are generally well supported.
Audience loyalty is in question right now because the competitive landscape is completely fragmented
Digital tools, the main source of connection early in the pandemic, have shifted to become more of an engagement and enhancement tool.
Full report for Fall 2021 Building Experiences in the New Economy can be accessed here:
Fall 2021 ReportTo request access to data tables, click here.
Phase 6. What did we learn?
Comfort levels, risk tolerance, and consumer mindset continue to shift with conditions.
Regardless of where restrictions are at, Albertans are going to return at their own pace.
Converting pent-up interest into attendance is tied to a combination of safety, availability and flexibility.
Spending habits have shifted.
Full reports for phase 6 can be accessed here:
To request access to data tables, click here.
To learn more about The New Experience Economy project, click here.
Phase 5. What did we learn?
Comfort has predictably shifted again
Our psychological mindset reflects a pent-up demand
The banana bread phase is getting stale
The desire for flexibility extends to financial support
Prolonged events highlight how we prioritize differently
Full reports for phase 5 can be accessed here:
To request access to data tables, click here.
To learn more about The New Experience Economy project, click here.
Phase 4. What did we learn?
Perceptions reflect the low tide of the pandemic to this point
Albertans are adapting to and following the rules
Change in habits during the pandemic appears to be additive, not alternative
Contexts framing marketing in this environment
Engagement is on hold
Travel within the province is an option
Full reports for phase 4 can be accessed here:
To request access to data tables, click here.
To learn more about The New Experience Economy project, click here.
Phase 3. What did we learn?
Community attitudes on comfort are becoming entrenched
Risk tolerance provides a richer understanding of how Albertans approach engagement
Engage Albertans based on understanding their risk tolerance
Audiences are listening and need to hear about what you will do to keep them safe, the experience they will have, and that it is shareable
They type of attraction will be vital. Some things garner better traction
Not all Albertans see this the same way and right now, those outside of the major urban centres may be more prepared to engage than others
Full reports for phase 3 can be accessed here:
To request access to data tables, click here.
To learn more about The New Experience Economy project, click here.
Phase 2. What did we learn?
Support for the pace of re-opening grows but there are still lingering pockets of disagreement
Comfort levels are creating a new baseline of engagement
Increasing gaps are appearing between audience segments on the pandemic
As restrictions lift, Albertans are are pulled by their social motivations and perceptions of safety outdoors
Engagement is (potentially) perishable
Staying connected will mean the development of innovative and hybrid experiences
In a crowded media space, audiences are still listening
Spending is obviously being impacted
Full reports for phase 2 can be accessed here:
To request access to data tables, click here.
To learn more about The New Experience Economy project, click here.
Phase 1. What did we learn?
The Experience Economy is massive and there is tremendous overlap across sectors.
Despite the crossover, arts and sports/recreation audiences demonstrate some differences in attitudes.
Understanding intrinsic motivations is the key to re-connecting with audiences.
Albertans are challenged to substitute experiences and fatigue is setting in.
Comfort levels will dictate re-engagement, more than interest, intention or past behaviours.
The overlap of economic concern is emerging and will only complicate planning over time.
A less optimistic outlook continues to exist.
Full reports for Phase 1 can be accessed here:
To request access to data tables, click here.
To access The Future of the Live Experience Economy discussion paper, click here.
To learn more about The New Experience Economy project, click here.
Meet the supporters behind this work.
This is initiative is being funded by leaders who see an opportunity to support organizations which bring remarkable experiences to life in communities across Alberta. Thanks to their generous support, there will be free access to research outcomes, workshops and sharing events to help you put the research to work for your teams.
