Escapism --a word that provokes excitement, indulgence and mere bliss has seemed to take over my mind since the start of my long awaited summer break. After the ending of a school year, I for one am looking for ways to escape into things that simply make me happy.
For instance, splurging on unique material goods, dining out at a nice restaurant, or a simple movie night out are escapist ways in which many of us have rewarded ourselves after a year of economic turmoil and school stress.
The growing trend of consumer escapism has been at an all time high this year thanks to the recession. Even with the woes and worries of consumer spending and survival, there is still a huge chunk of us that are indeed spending on product purchases and experiential services. For instance, Canadian based Cineplex Entertainment LP has managed to benefit from the rise in consumer escapist trends, by outperforming past year revenue rankings. Net revenue for Cineplex rose from $189.8 million in May of last year, to a total $211 million in May 2009.
This presents an opportunity for many service businesses, as consumers are spending their money on things that give them emotional satisfactions rather than physical utilities. Businesses that fall under the entertainment industry are able to create a sense of trust, connection and empathy with consumers who are willing to spend on engagements of happiness. Everything from movie theatres, sporting events, concerts to even sensory restaurant dining are all positioned to rank in revenues for their businesses. As long as their brand positioning offers an intangible positive experience to consumers, these are the businesses that will gain success during such times. It’s about adapting to what the consumer wants, and then guiding them with the right level of care to lead them to their escapist satisfaction, while gaining your own business triumph.
Cineplex has factored the idea of escapism into their own branded catch phrase of “escape with us” through delivering their offering to the average movie-goer. Speaking for myself, I have been and always will be a movie junkie who gets enthused every time I go to a theatre. There’s just something about watching a large screen and being taken away into a world of moving stories and images, that leaves me gratified and in wonder.
Let’s face it; you are never too old for a movie outing at your local theatre. Cineplex’s success just goes to show that the basic movie watching experience will always remain universal and intimate to the consumer; which is one of the best ways to escape to contentment!
For instance, splurging on unique material goods, dining out at a nice restaurant, or a simple movie night out are escapist ways in which many of us have rewarded ourselves after a year of economic turmoil and school stress.
The growing trend of consumer escapism has been at an all time high this year thanks to the recession. Even with the woes and worries of consumer spending and survival, there is still a huge chunk of us that are indeed spending on product purchases and experiential services. For instance, Canadian based Cineplex Entertainment LP has managed to benefit from the rise in consumer escapist trends, by outperforming past year revenue rankings. Net revenue for Cineplex rose from $189.8 million in May of last year, to a total $211 million in May 2009.
This presents an opportunity for many service businesses, as consumers are spending their money on things that give them emotional satisfactions rather than physical utilities. Businesses that fall under the entertainment industry are able to create a sense of trust, connection and empathy with consumers who are willing to spend on engagements of happiness. Everything from movie theatres, sporting events, concerts to even sensory restaurant dining are all positioned to rank in revenues for their businesses. As long as their brand positioning offers an intangible positive experience to consumers, these are the businesses that will gain success during such times. It’s about adapting to what the consumer wants, and then guiding them with the right level of care to lead them to their escapist satisfaction, while gaining your own business triumph.
Cineplex has factored the idea of escapism into their own branded catch phrase of “escape with us” through delivering their offering to the average movie-goer. Speaking for myself, I have been and always will be a movie junkie who gets enthused every time I go to a theatre. There’s just something about watching a large screen and being taken away into a world of moving stories and images, that leaves me gratified and in wonder.
Let’s face it; you are never too old for a movie outing at your local theatre. Cineplex’s success just goes to show that the basic movie watching experience will always remain universal and intimate to the consumer; which is one of the best ways to escape to contentment!
-Nikita
