Looking back on 2020 we get a good sense of where sports and events are headed. Here is my list of the top 8 trends and the direction towards which we can already see a great deal of momentum taking shape.
- Virtual sets combined with augmented reality and virtual reality will see growth as we move further away from physical and real into wild, imaginary and unlimited spaces that tech can create.
2. Consumers are spoilt for choice now. They will look for events at the flick of a switch with a desire to deep dive into experiential and immersive content while comfortably ensconced in their lazy boy recliners.
3. Gone are the days of masses collecting in a stadium if they can experience a game or an event sitting at home and yet be a part of something that’s unfolding live. Events will be integrated with market where live bids, shopping and live interactions will be possible.
4. Events will provide pre-packaged, sanitised boxes as meals for the crew and for the audience. Buffets will be more closed door, invitees only kind of gatherings where fewer people are expected to congregate.
5. Podcasts will see exponential growth primarily because these can be managed as remote productions from home.
6. Phygital – Brands are leveraging the digital space to build better interaction with brands like hotels, malls, shops, products, etc. The sudden large scale shift of consumers to online has created a fertile hunting ground for brands to build their audience. The reach has expanded exponentially and we are witnessing algorithm based sorting of potential buyers.
7. Brands will increasingly aim to personalise and customise events and products to create a loyal customer base that expects to be pampered.
8. Marriages will revert to being simple functions requiring the families and friends. The focus will shift to celebrating the personal and private with close friends and family rather than mega events where posturing and ugly display of wealth had become the forced norm.
9. Contract workers will be in demand and businesses will strive to integrate them better to make them feel invested as well as accountable. Contract workers will increasingly comprise an experienced, skilled work force allowing companies to use expensive talent on a project basis.
10. The ability to flex and pivot at short notice will give businesses the winning advantage. Staying lean is now imperative to success and mega businesses will need to shave their fat, become agile.
As quickly as our worlds are shifting and changing we are all being forced to adapt and relearn, leave behind what we knew and embrace the new.