BRANDS, MEET THE $10 TRILLION “ESCAPE ECONOMY” By Investing.com

NEW GLOBAL STUDY FROM  MCCANN WORLDGROUP TRUTH CENTRAL FINDS  91% OF PEOPLE GLOBALLY SEEK TO ESCAPE FROM DAILY LIFE, UNLOCKING OPPORTUNITY FOR ALL BRANDS TO GET INTO THE BUSINESS OF ESCAPE

“The Truth About Escapism” Study, Released at the Consumer Electronics Show, Reveals That Technology Plays a Crucial Role in This Reality, With 1 in 2 People Going Online to Find Moments of Escape

LAS VEGAS, Jan. 8, 2025 /PRNewswire/ —  McCann Worldgroup Truth Central, the global intelligence unit of McCann Worldgroup, today released “The Truth About Escapism,” a new global study which found that 86% of people think distractions can be a healthy way to cope with the stress of everyday life. A full 60% of respondents find themselves craving distraction more today than in the past. As a result of these and other findings, brands across every category have immense opportunities to tap into the nearly $10 Trillion and growing “Escape Economy.”

The research reveals that what people define as their “escape mode” can incorporate everything from a run, listening to music, going out to lunch, snacking, shopping, scrolling through videos on social media platforms and playing video games, among a host of other activities. And while the travel and tourism category unsurprisingly claims the largest share of the Escape Economy ($3.2 Trillion), categories like Luxury Goods ($460 Billion),  Alcohol ($1.8 Trillion), Health & Wellness ($220 Billion), Casinos & Gambling ($372 Billion), Gaming ($106 Billion), Theme Parks ($50 Billion), and Beauty ($66 Billion) all play significant roles in people’s methods for taking a break from their daily lives. The Escape Economy is predicted to grow to $13.9 Trillion by 2028, making it imperative even for brands not traditionally marketed as part of this new world to quickly become part of it.

McCann Worldgroup Chief Intelligence Officer and President of McCann Worldgroup Truth Central Laura Simpson said: “Every brand will have to be in the business of escape, even if they don’t know it yet. From immersive travel experiences to fleeting daily distractions, escapism offers a spectrum of opportunities for relief, renewal, and reinvention. In so many ways, technology plays a key role in how people take a well-needed break from their daily lives, which is why we are launching this study from the Consumer Electronics Show. Although a balance needs to be found “ technology is also one of the things we’re finding people wish to escape from. Brands that get this balance right and tap into this massive market will drive deeper emotional connections with their audiences, foster brand loyalty, and unlock new possibilities in an evolving consumer landscape.”

The Truth about Escapism is a global study that combined a robust research methodology, including a quantitative survey of over 16,000 respondents across 16 markets conducted in April 2024, with qualitative depth with over 50 sources of academic literature review, and interviews with 15 experts across 10 disciplines (spanning psychology, gaming, tourism, and more). It also features industry valuations that have been provided by GlobalData.

The study explores the Escape Economy through the following four areas, each with implications for how brands can play a key role in this fundamental human need:  

1. Escape Mode: Escapism is no longer confined to annual holidays or major events; the ideal escape can range from big occasions like immersive travel experiences to everyday moments that permeate daily life.
2. Escape Decoded: The research reveals significant differences in how people view escapism around the world. For example, while people in the U.S. often seek to escape the “State of the World,” those in France are more likely to disconnect from “the news.” In China, the focus shifts to escaping “parents and older relatives,” whereas in India, it’s about stepping away from “social media.”
3. Escape Frontiers: While technology remains a key driver, new forms of escapism are emerging, such as “sleep tourism,” offering luxury sleep-enhancing experiences; “day guesting,” providing quick, local retreats at hotels and spas; and “psychedelic reinvention,” leveraging psychedelics for personal growth and identity exploration, are redefining how we disconnect. For younger generations, mainstream fantasy”through cosplay, fantasy fiction, and daydreaming”and other imaginative activities “ are increasingly popular.
4. Escape Designed: The study details the new landscape of escapism brands need to play in and the three ingredients to a great escape:

• Elevate Anticipation: Harness the excitement of planning and looking forward to an escape”because sometimes, the build-up is as rewarding as the experience itself.
• Shift Perspectives: Help people step outside their routines and gain fresh viewpoints. Whether physical or emotional, a change in scenery can redefine how they see their lives.
• Choose Freedom: Deliver experiences that provide a sense of joyous liberation”where “airport rules” apply, and people feel free to break routines and embrace spontaneity.

Jess Francis, Research Director, McCann Worldgroup Truth Central, added, “For brands with credibility in escapism, the question is: ‘Are you doing enough?’ And for brands that are not traditionally in the business of escape, the question is: ‘Where might you start?’ In a modern world filled with ever-increasing stresses, what is not in question is whether a brand should become part of people’s various modes of removing themselves from them. Because if people aren’t escaping with your brand, they are escaping with someone else’s.”

Among its many counterintuitive findings, the research revealed that 82% of people say that sometimes looking forward to an experience is more enjoyable than the experience itself. Additionally, people also admit to a bit of fiscal irresponsibility, with 2 in 3 respondents saying that “buying myself things even when I shouldn’t makes me happy.”

The executive summary containing more key findings and insights derived from the study can be found here.

About McCann Worldgroup
McCann Worldgroup, part of the Interpublic Group (NYSE: IPG), is a leading global creative solutions company. The company is united across 100+ countries by a mission to build enduring brands together through the radical creativity of Truth Well Told. McCann Worldgroup was named Network for the Year by the Andys in 2024, Network of the Year by the EPICA Awards for the sixth time and ranked Most Effective Agency Network by the Global Effie Index 2023, for the fifth time. The core McCann Worldgroup network is comprised of McCann, MRM, CRAFT, and FutureBrand, and partners with Momentum Worldwide, Weber Shandwick and UM to deliver solutions across the entire marketing spectrum.