How we are helping clients
We help our clients by providing data-based insights into what consumers want. Compiling, understanding and interpreting relevant data is our area of expertise. We generate data through having direct conversations within the sector, running surveys and focus groups, connecting with a network of other experts, and consulting our own deep expertise in tracking consumer disruption over decades. Strong data analytics provides us with powerful evidence-based insights and skills to best support our clients and give them a solid advantage.
We are dedicated to understanding what consumers pursue. Concepts like membership, personal fulfilment and belonging are all part of the lens through which we examine changes in the leisure and entertainment sector. Understanding how consumers wish to fit into the world now and in the future helps us gauge potential new revenue streams for companies. From adding merchandise streams to recommending new broadcast sports strategies, we help our clients survive and thrive in the rapidly changing leisure and entertainment sector. Inflation also can’t be ignored, and we are determined to help clients achieve cost efficiencies and communicate value-for-money to their customers.
“The overlay of digital and physical is the sweet spot for the sector. Getting this right should pay dividends.”
— David Bishop, Partner, Paris
The year ahead
We see big things ahead in 2023. Digital transformation remains a continuing trend - we saw an acceleration during the pandemic, and this shift is continuing.
After a period of experimentation with hits and misses (VR tours, VOD everywhere), there is now a more settled idea of how digital and its devices can add value to leisure experience.
Despite a lot of missteps, augmented reality and digital services that blend physical experience with devices (shopping, stadium, workout) are becoming useful in multiple settings. Entertainment and content providers are finding ways to serve different consumer groups with varied needs by offering a mix of settings (in venue, at home), platforms, content packaging and lengths, and funding models (ad or not).
The tension of consumers reverting to post-Covid spending while also tightening their belts as macro conditions soften is another critical issue for leisure verticals in the year ahead. On one hand, consumers are keen to return to pre-Covid lifestyle patterns and catch up on missed experience and wellness activities. Long-distance travel, yoga retreats, and dining out are all making comebacks. On the flip side, consumers are facing rising living costs, stagnant discretionary incomes, and general uncertainty – all of which support a subdued approach to spending. The balance that consumers should strike here is an important question.
Why L.E.K.?
As ever, it’s our deep understanding of client needs and our ability to turn this understanding and insight into a clear business strategy that makes a big difference for our clients in a challenging and exciting market.
