Predictions for 2016: The Events Industry

2015 was a fantastic year for the events industry. 2016 is well on the way to being better.

What will you do differently this year? Will you pick up that guitar that’s been lying in your attic for years and start strumming once again? Or those paintbrushes that you last used years ago when you taught children art?

Based on insights from our in-house analyst, we came up with 6 trends that will reshape the event industry this year.

1.Empowering Individuals to turn Event Entrepreneurs

For any average Joe who is talented and wants to play in a band, the timing couldn’t be better. 2016 will throw up opportunities that will allow anyone with some talent to raise funds to perform before an audience and promote the Event. This is potentially disruptive because now more talent will come to the fore. Be it in music, art, cooking, sculpting or what not. And you know, how we love underdogs!

2.Choices a-Plenty

Most people in the Events industry will tell you that a Guest’s experience starts from choice. Being able to choose is a big deal but a lot depends also on what people are choosing from. For a Guest, this means access to options that cater to her interest areas. So if you love good music, then you would rather look at music Events than say adventure and outdoor Events.

The power to choose is tremendous. It democratizes opportunity. You as a Guest don’t have to wait for a talent show or a music label to bring artists to you. You can simply choose to attend Events by newbies and if you like what you hear, the rest is history.

More Finance and Technology Events

The Economic Times reports that India overtook China to become the fastest growing economy in the world in 2015. With things looking optimistic for the economy in 2016, the events industry will witness more finance and technology Events. And as speakers and Guests from all over the world come to India, Event Organizers, be warned – the expectations that you will deliver a professionally managed and well-organized Event are very high.

Simplifying Event Search at Venues

As a Guest, it is always a hassle to search for Events by venues. In the good old days, you would just buy a newspaper and scan it for movies or plays or any other Events in the listings section. Venue-based search has simply not kept pace with the fast-changing Events industry. 2016 will forever change the way Guests search for Events at different venues.

Data-Driven Insights will be King-Makers

Big Data has transformed every industry with leaders in the industry modifying business strategy as per actionable insights derived from data. Data and analytics will transform the Events industry as Event Organizers will replace anecdotes and tried and tested Events with rich data to tailor their Event Planning.

The Experience Marketplace:

With a higher purchasing power than ever before, India’s increasingly young and hip earning class is looking for newer experiences. The trend of gifting experiences to loved ones will only pick up in 2016, be it the nerve-wracking bungee jump for the adventurous or simply the more elegant wine-tasting session for lovers of the good life. The more unique the experience, the higher the number of takers.

Corporates will also use experiences to drive home their message. Many are already using the flash mob to ensure the audience retains the message and experiences like that will only grow in number. 2016 will thus see the rise of the experience marketplace.

The coming year promises to be an interesting one for Event planners and entrepreneurs, marketers and most importantly, Guests. We wish you a happy and prosperous new year!