emerging
Premiumization through Fandom
Luxury cocktail experiences are gaining traction with next-gen fandoms, shaking up a new era for premiumization in unexpected locations.
Timeframe
near-term
Categories
Impact areas
Detailed Analysis
The rise of fandoms is driving premiumization in the cocktail industry. Fans are seeking elevated experiences beyond traditional entertainment, leading to increased spending on premium drinks and curated events. This trend is evident in the success of hospitality add-ons at concerts and sporting events, as well as the emergence of 'gig-tripping' packages offered by luxury hotels. As Martin Raymond, Co-Founder of The Future Laboratory, explains, "Today’s consumers are moving away from being ‘consumers’ of products, to ‘curators’ and ‘collectors’ of experiences."
Context Signals
Increased spending on experiences by Gen Z and Millennials
Record revenues for live entertainment companies
Growth of the sports hospitality market
Edge
Brands can leverage fandom by creating unique, immersive experiences that cater to specific fan communities.
Luxury hotels can further capitalize on this trend by offering specialized packages and curated cocktail menus for major events.
The intersection of technology and fandom will create new opportunities for premiumization, such as virtual reality experiences and personalized cocktail recommendations.
