The OC&C Fundex reveals the most fun leisure brands for the first time in global consumer research
The OC&C Fundex, a global study of the Leisure market, reveals ‘fun’ is a fundamental factor for many guests when deciding where to visit.
The study’s findings on consumers’ attitudes to fun will help brands work out ways to deliver better experiences for their guests.
A global study of 40,000 consumers across 600+ brands, reveals that ‘fun’ is a key element many guests look for when deciding where to visit.
This is the first global study of the Leisure market in which consumers were asked to rate their experience of brands on ‘fun’, alongside many other key elements.
Findings from the study highlight that an engaging and fun experience is an increasingly powerful way to encourage great reviews, help word-of-mouth marketing and drive repeat visits, all of which contribute to better financial performance.
Among the UK pub and restaurant segment for example, brands in the top fun quartile enjoy repeat monthly visits from nearly 30% of their guests, the same figure for the bottom quartile of brands is only 17%.
David Foster, Associate Partner at OC&C, said: “The findings of this study have wide reaching implications for hospitality and leisure brands, as the benefits of being a more fun leisure brand for the first time are proven to be real and significant.
“More fun brands typically benefit from a higher number of positive personal recommendations, better reviews and stronger brand loyalty.
“These factors are becoming even more important in a world where guests are increasingly looking online for inspiration when deciding where to go, are visiting a greater variety of brands and are less convinced by old-fashioned value-based promotions.
“We’re also seeing a shift in generational behaviour. Millennials and Gen Z are the consumers of now and the future, and are increasingly demanding, less brand loyal and are preferring to spend money on experiences rather than products.
“Understanding how to offer more fun experiences should be a high priority for brands wanting to appeal more strongly to these generations and gain competitive advantage.”
OC&C’s research identified four main ways that the most successful brands are creating more fun experiences for their guests:
• Keep it fresh: Guests typically have more fun if they can get away from more mundane, everyday experiences and try something new. Brands can use this to their advantage by encouraging guests to be a little more adventurous in their choices.
• Make it shareable: Interacting with people is often a key driver of fun. Brands should capitalise on this by providing an environment that brings people together and gets them talking (and Instagramming).
• Fun is a team sport: The most fun brands have strong committed teams that are fully bought into what the brand represents. Whether the team are creating the fun or merely facilitating it, the experience is written into the DNA of the team and how they interact with guests.
• Beware the fun-killers: Slow service, inconsistent standards and poor value for money are just a few of the most common mistakes brands make that stop guests having fun.
The research also uncovers how much fun different countries have – despite France being home to the most fun leisure brand across all the markets surveyed, a historical-themed amusement park: Puy du Fou – the research suggests that the French have the least fun of all countries surveyed, with the British mid-table ahead of the Germans and the Chinese and Americans top.
David Foster continues: “Our research helps to understand why the French, the Germans and the Brits have less fun than American or Chinese leisure guests.
“Not only are they nations of bargain hunters – a character trait associated with guests that claim to have less fun – they also spend a lot of time alone with their partners despite not having very much fun with them.”
The OC&C Fundex findings come from a survey of 40,000 global consumers to discover what they really think of 650 of the world’s biggest hospitality and leisure brands and how they use them.
The study covered 8 countries; China, France, Germany, Italy, Poland, Turkey, UK, and the US.
Founded in 1987, OC&C is a leading global strategy consulting firm that brings clear thinking to the most complex issues facing today’s management teams.
OC&C’s client roster includes some of the world’s most respected companies throughout the retail, consumer goods, media, business services and private equity sectors.
For more information about OC&C Strategy Consultants, please visit http://www.occstrategy.com