Table of Contents
Executive Summary
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- Top takeaways
- Market overview
- Impact of COVID-19 on experiential marketing
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- Figure 1: Short-, medium- and long-term impact of COVID-19 on experiential marketing, October 2020
- Opportunities and Challenges
- Multicultural consumers want the full brand experience, some are willing to pay for it
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- Figure 2: Reasons for participating in brand-sponsored events and attitudes toward brand-sponsored events and experiences, by race and Hispanic origin, July 2020
- Virtual events are engaging for a few, but in-person events with any size crowd is preferred
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- Figure 3: Expected outcomes from brand-sponsored events and attitudes toward brand-sponsored events and experiences, by race and Hispanic origin, July 2020
- Connection with others hinges on shared interests for most
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- Figure 4: Attitudes toward brand-sponsored experiences and events, by race and Hispanic origin, July 2020
- Brands that institute safety measures for all will entice consumers to engage in-person in the “next normal”
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- Figure 5: Re-emergence event participation considerations, by race and Hispanic origin, July 2020
- Artists and event venues that rely on brand sponsorships may disappear without federal support
- What’s next
Target Audience – Key Takeaways
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- 46% of adults aged 18-34 are people of color
- White and Asian young adults more likely to be affluent than Black and Hispanic young adults
- Multicultural young adults are concentrated in different regions across the US
Multicultural Young Adults by the Numbers
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- Nearly half of adults 18-34 are people of color
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- Figure 6: US population distribution, by race and Hispanic origin, 2019
- Family life impacts what events and activities draw young adults
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- Figure 7: US family composition among adults aged 18-34, by race and Hispanic origin, 2018
- Higher education elusive for young Hispanic and Black adults
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- Figure 8: Educational attainment – Adults 18-34, by race and Hispanic origin, 2019
- Education and professional disparities impact interests across groups
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- Figure 9: Household income distribution among adults aged 18-34, by race and Hispanic origin, 2018
- Young adults of color population across the country impacts event attendance
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- Figure 10: Adult 18-34 population share by US division, June 2020
Industry Landscape – Key Takeaways
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- Virtual events have become the norm, but young adults need more engagement
- A return to sports is not the panacea as imagined
- Events industry call for federal help to save their businesses
Market Perspective
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- COVID-19 suspends in-person experiential marketing opportunities
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- Figure 11: Short-, medium- and long-term impact of COVID-19 on experiential marketing, October 2020
- All major sports simultaneous return to television yields less than optimal ratings
- Events industry lobbies support for the RESTART Act
Market Opportunities
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- Offer the best of both worlds with hybrid in-person/virtual events
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- Figure 12: Attitudes toward brand-sponsored experiences and events, by race and Hispanic origin, July 2020
- Use AR and VR to push greater interaction and engagement
Competitive Strategies
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- Virtual gaming cultural event draws record participation
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- Figure 13: Fortnite Travis Scott Twitter recap post, April 2020
- Essence communications moves its annual fete along with sponsors online
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- Figure 14: Essence Festival of Culture/Ford Virtual Showroom, June-July 2020
The Consumer – Key Takeaways
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- Brand events are an extension of consumer trends
- Multicultural young adults turn to virtual events to remain connected to their interests and social circle during lockdown
- Hispanic and Black young adults yearn to attend events that strengthen their cultural connection, Asians look for personal growth
- Multicultural young adults mostly place safety responsibility among event producers
- Event focus is the greatest draw to brand-sponsored events
- Events allow multicultural young adults to experience brands in a fun environment with people like them
The Multicultural Consumer and Brand Experiences
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- Brand-sponsored events serve as both stimulating activity and discovery
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- Figure 15: Mintel Global Trend Drivers and Pillars – Experiences, Surroundings, Technology
COVID-19 and the Impact on Event Attendance
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- Communal events top multicultural adults engagement
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- Figure 16: Brand-sponsored event participation, by race and Hispanic origin, July 2020
- Designed virtual events drive engagement during lockdown, but less so than pre-social distancing
- Virtual entertainment events drew new Hispanic participants during lockdown
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- Figure 17: COVID-19 impact on event participation, by Hispanic adults aged 18-34, July 2020
- Young Black adults attempt to compensate the loss of in-person events with virtual experiences
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- Figure 18: COVID-19 impact on event participation, by Black adults aged 18-34, July 2020
- Virtual entertainment draws new Asians young adults online
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- Figure 19: COVID-19 impact on event participation, by Asian adults aged 18-34, July 2020
Re-emergence Event Participation Plans
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- A hunger for sports and cultural events will drive young Hispanics’ participation
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- Figure 20: Re-emergence event participation plans, by Hispanics aged 18-34, July 2020
- The field, the court and music are the go-to events during re-emergence for Black young adults
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- Figure 21: Re-emergence event participation plans, by Black adults aged 18-34, July 2020
- A return to the next normal is on tap among Asian young adults
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- Figure 22: Re-emergence event participation plans, by Asian adults aged 18-34, July 2020
Event Safety Measures Expected Post Re-Emergence
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- Young adults look to producers to create a sense of normalcy plus safety
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- Figure 23: Re-emergence event participation considerations – adults aged 18-34, by race and Hispanic origin, July 2020
- Hispanic young adults prioritize supplementary precautions for everyone present
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- Figure 24: Re-emergence event participation considerations, by Hispanics aged 18-34, July 2020
- Black young adults more likely to be essential workers want to ensure their safety first
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- Figure 25: Re-emergence event participation considerations, by Black adults aged 18-34, July 2020
- Asian young adults find security in producer-lead safety measures, including cleanliness
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- Figure 26: Re-emergence event participation considerations, by Asian adults aged 18-34, July 2020
Reasons Why Young Adults Participate in Events
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- Events serve as a multisensory entertainment experience for young adults
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- Figure 27: Reasons for participating in brand-sponsored events, by race and Hispanic origin, July 2020
- Hispanics in a new lifestage and related interests drive event participation
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- Figure 28: Reasons for participating in brand-sponsored events, by Hispanics aged 18-34 key demographics, July 2020
- Participation must deliver value to be worth the effort for young Black adults
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- Figure 29: Reasons for participating in brand-sponsored events, by Black adults aged 18-34 key demographics, July 2020
- Events serve as a transactional engagement for young Asian adults
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- Figure 30: Reasons for participating in brand-sponsored events, by Asian adults aged 18-34 key demographics, July 2020
Expected Outcomes from Brand-sponsored Events
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- Events offer a space to commune and share interests with like-minded people
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- Figure 31: Event expectations, by race and Hispanic origin, July 2020
- Events that help young Hispanic adults create or foster relationships deliver the greatest total experience
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- Figure 32: Event expectations, by Hispanics aged 18-34 key demographics, July 2020
- Young Black adults expect a next-level, fun shopping experience
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- Figure 33: Event expectations, by Black adults aged 18-34 key demographics, July 2020
- Young Asian adults’ newly formed independence includes new people and information found among like-minded people
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- Figure 34: Event expectations, by Asian adults aged 18-34 key demographics, July 2020
Attitudes toward Brand-sponsored Experiences and Events
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- Event value is expressed in the total experience
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- Figure 35: Attitudes toward brand-sponsored experiences and events among adults aged 18-34, by race and Hispanic origin, July 2020
- Young Hispanic adults shift from personal enrichment to cultural connections as they start families
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- Figure 36: Attitudes toward brand-sponsored experiences and events, by Hispanics aged 18-34 key demographics, July 2020
- Culturally relevant events are fun, but a more tailored, interest-focused experience is equally important to young Black adults
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- Figure 37: Attitudes toward brand-sponsored experiences and events, by Black adults aged 18-34 key demographics, July 2020
- Socialization, life experiences and a definition of value drive young Asians’ attitudes across nationality
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- Figure 38: Attitudes toward brand-sponsored experiences and events, by Asians aged 18-34 key demographics, July 2020
Appendix – Data Sources and Abbreviations
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- Data sources
- Consumer survey data
- Abbreviations and terms
- Abbreviations
- Terms
Appendix – Mintel Trend Drivers
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- Figure 39: Mintel Trend Drivers and Pillars
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