BRANDS, MEET THE $10 TRILLION "ESCAPE ECONOMY" By Investing.com

BRANDS, MEET THE $10 TRILLION “ESCAPE ECONOMY” By Investing.com

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NEW GLOBAL SURVEY FROM MCCANN WORLDGROUP TRUTH CENTRAL FINDS 91% of people globally seek to escape from everyday life, opening up an opportunity for all brands to get into the escape business

“The Truth About Escape” research, published at the Consumer Electronics Show, reveals that technology plays a critical role in this reality. 1 in 2 people go online to find moments of escape

Las Vegas, January 8, 2025 /PRNewswire/ — McCann Worldgroup Truth Central, the global intelligence division McCann WorldgroupToday saw the release of The Truth About Escape, a new global survey which found that 86% of people think distraction can be a healthy way to deal with everyday stress. A full 60% of respondents crave distraction more today than in the past. As a result of these and other discoveries, brands across all categories have enormous opportunities to leverage almost $10 trillion and a growing “runaway economy.”

Research has shown that what people define as “escape mode” can include anything from jogging, listening to music, going out to lunch, snacking, shopping, scrolling through videos on social media platforms and playing video games, and much more. activity. And while the travel and tourism category is unsurprisingly the largest share of the Escape Economy ($3.2 trillion), categories such as luxury goods ($460 billion), alcohol ($1.8 trillion), health and wellness ($220 billion), casinos & Gambling games ($372 billion), game ($106 billion), theme parks ($50 billion) and beauty ($66 billion) all play an important role in people’s methods of respite from everyday life. The runaway economy is predicted to grow $13.9 trillion By 2028, making it imperative that even brands not traditionally marketed as part of this new world quickly become part of it.

McCann Worldgroup Chief Intelligence Officer and President of McCann Worldgroup Truth Central Laura Simpson said: “All brands will have to be in the business of escape, even if they don’t know it yet. From immersive travel experiences to everyday distractions, escape offers a range of opportunities to unwind, refresh and reinvent. In many ways, technology is playing a key role in how People are taking a much-needed break from their daily lives, which is why we’re launching this study from the Consumer Electronics Show “Technology is also one of the things people want to get away from. Brands that get this balance right and tap into this mass market will create deeper emotional connections with their audiences, foster brand loyalty, and unlock new opportunities in an evolving consumer landscape.” .”

The Truth About Escapism is a global study that incorporates robust research methodology, including quantitative surveys of over 16,000 respondents in 16 markets. April 2024With qualitative depth, with more than 50 sources of academic literature review and interviews with 15 experts in 10 disciplines (including psychology, games, tourism and more). It also includes industry estimates provided by GlobalData.

The study explores the Escape Economy through the following four areas, each with implications for how brands can play an important role in this fundamental human need:

  1. escape mode: Escapes are no longer limited to annual holidays or major events; The ideal getaway can range from grand occasions like an immersive travel experience to everyday moments that permeate everyday life.
  2. The escape is decoded: Research reveals significant differences in how people view escapism around the world. For example, when people USA They often try to escape from the “world situation”, they France They are more likely to be disconnected from the “news”. In ChinaEmphasis shifts to escaping “parents and older relatives”, while IndiaIt is about getting away from “social media”.
  3. escape from borders: While technology remains a key driver, new forms of escapism are emerging, such as “sleep tourism,” which offers luxury experiences to improve sleep; “Day Visits” that provide quick, local stays at hotels and spas; And “Psychedelic Reinvention,” which uses psychedelics to explore personal growth and identity, redefines how we break up. For younger generations, mainstream fantasy through “cosplay, fantasy and daydreaming” and other imaginative activities is becoming increasingly popular.
  4. Escape Designed: The study details the new landscape of escapism brands and the three ingredients for the perfect escape:
  • Raising expectations: Embrace the excitement of planning and looking forward to your getaway, because sometimes, the build-up is just as rewarding as the experience itself.
  • Shift Perspectives: Help people go beyond their routines and gain new insights. Whether it’s physical or emotional, a change of scenery can redefine how they see their lives.
  • Choose Freedom: Provide an experience that provides a sense of joyful release where the ‘airport rules’ apply and people feel free to break routine and embrace spontaneity.

Jess FrancisDirector of Research, McCann Worldgroup Truth Central, added: “For brands with credibility on the run, the question becomes, ‘Are you doing enough? And for brands that aren’t traditionally in the escape business, the question becomes, “Where can you start?” In today’s world of ever-increasing stress, what is in question is whether or not a brand should become part of the various modes of self-removal that people take, because if people don’t run with your brand, they run with someone else.”

Among many counterintuitive findings, the study found that 82% of people say that sometimes the anticipation of an experience is more enjoyable than the experience itself. In addition, people also admit to being a little fiscally irresponsible, with 2 in 3 respondents saying “buying things for myself even when it shouldn’t make me happy.”

An executive summary containing more key findings and insights from the study can be found here.

about McCann Worldgroup
McCann Worldgrouppart Intercommunity group (NYSE: IPG), is a leading global creative solutions company. The company is united in 100+ countries with a mission to build sustainable brands with the radical creativity of Truth Well Told. McCann Worldgroup was named network for the year By Andy in 2024, network of the year by EPICA Awards for the sixth time and in the ranking of the most effective agency network in the global Effie Index 2023, for the fifth time. core McCann Worldgroup The network consists of McCann, MRM, CRAFT and future brandand partners with Momentum Worldwide, Weber Shandwick and UM to provide solutions across the spectrum of marketing.

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