With more time at home, people were reliant on technology to stay connected to work, family and friends. — Photo courtesy of Mastercard
Findings from Mastercard’s inaugural Experience research reveal that people recognise the value of self-enrichment and are willing to invest time and energy in experiences that leave them feeling uplifted long after the moment ends.
They prefer experiences that they can do with family and friends (81 per cent) and want to visit new places so they can see and do things they’ve never done before (71 per cent), while being open to cultural influences and learning about new cultures (66 per cent). A bonding experience between themselves and people they care about is the number one thing that makes an experience truly “priceless”.
“The pandemic forced people to reconsider what they need from experience and brands to reimagine how to deliver them," said Raja Rajamannar, chief marketing and communications officer, Mastercard.
"Findings from the research help us understand what is most meaningful to people today, and what experiences we can bring them to help create moments and memories that are truly priceless.”
The research found that people increased their focus on tech enabled wellbeing (22 per cent), rest and balance (29 per cent), and soothing activities (30 per cent) during the pandemic. Their proactive focus on self with an eye towards increased resilience lead them to prioritise mental wellbeing (85 per cent), emotional wellbeing (83 per cent) and physical wellbeing (83 per cent), all to find energy to connect with others.
With more time at home, people were reliant on technology to stay connected to work, family and friends. Now people are ready to focus on relaxation, whether that is through leisure activities like online gaming or by escaping to the great outdoors. Nearly half of people surveyed agreed that it is important to spend time unplugged without interruption from any device. Companionship and quality time with loved ones is a priority for people, with nearly three quarters stating they make a real effort to have this quality time with friends and family, and what makes an experience truly priceless is the bonding opportunity with the people they care about, according to the Mastercard research.
Rustom Dastoor, Senior Vice President, Head of Marketing and Communications, Asia Pacific, Mastercard, said: “Brands spend years and millions of dollars trying to drive behaviour change in their audience. And then a moment like the one we are living through arrives, which changes everything instantly.
"The brands who will successfully grasp this moment are the ones who put consumer interests at the heart of everything they do, have the greatest social empathy and consciousness, and are digitally agile to pivot at a moment’s notice.” — VNS