Member Exclusive: Understanding the ‘Experience Economy’ – A Trend Hunter Report

February 9, 2023 | Toy Association members can now access a new, free Trend Hunter report to help expand and elevate their experiential marketing and service offerings to better engage, communicate, and connect with today’s consumers.

“Creating experiences allows brand owners to entertain consumers through immersive interactions while also offering another valuable touchpoint to educate them about your product,” said Anne McConnell, senior director of market research & data strategy at The Toy Association. “Available exclusively to Toy Association members, the latest Trend Hunter report offers key insights and guidance to build meaningful experiences for customers.”

Some of the key trends and examples highlighted in this report include:

  • Web3 Tourism — The next iteration of the Internet is focused on decentralization via the Metaverse, NFTs, and token-based economics. This shift in technology is slowly impacting various consumer-facing industries, but the tourism industry in particular is more open to technological shifts as it continues to adapt to a landscape shaped by the pandemic. Moxy Hotels, for example, teamed up with Play Beyond to develop an AR game in Asia Pacific that invites prospective guests to explore their hotels through a gamified experience.
  • Shoppable TV — Across industries, e-commerce integrations are becoming the norm, making efficient online shopping near ubiquitous. Peacock’s Love Island USA integrates on-screen QR codes that lead viewers to a show-themed shopping portal. Discovery+ offers a ‘showcase ads’ option for brand owners to invite viewers to shop products they see on their screens in real-time.
  • Kid-Friendly Magic — Kid-friendly content has historically focused on TV shows and movies, but it's now being adapted to accommodate music as well. Last May, Spotify launched its new Spotify Island destination in Roblox, where users can interact with participating artists (ie. virtual meet and greets, concerts, etc.), complete quests, unlock exclusive content, and create their own music on “beatmaker stations.”

Other examples in the report delve further into branded experience tactics using AR/VR, NFTs, and integrations with the metaverse. This includes Build-A-Bear’s limited-edition 25th Celebration NFT Collectible featuring Swarovski Crystals and HoloToyz’ Paw Patrol stickers and temporary tattoo range, which bring the characters to life with an AR app.

This report is the latest in a series from Trend Hunter that is exclusive to Toy Association members. These reports offer in-depth perspectives and trends in various areas related to the toy industry and youth markets to help spark unique ideas. For additional relevant trends, members can click on the report’s consumer insights examples, scroll down, and click the images for further information.

TrendHunter.com has accumulated nearly 3 billion views from more than 100 million visitors. The data research company helps clients “Dive Deeper,” “Work Smarter,” and “Save Effort” in order to increase the overall success of their companies and brands.