Recession Leisure - The New Wave?

The 2008/2009 recession has brought measureable change to North American leisure behaviours and patterns.  Perhaps more significantly, recession related adaptations mirror longer term trends that have been observed over the past couple of decades.  We may well be seeing a permanent, rational shift that will influence leisure decisions and markets for decades.

An overview of the changes:

• Less - a tighter personal or household economy pushes current trends towards voluntary simplicity, downward mobility, small indulgences.  People are simply spending less on stuff and using what they already have more. Many recent reports and studies have shown that those who have moved away from rampant materialism are happier, more satisfied, and less stressed.
• More Time at Home -  The White Hutchinson Leisure eNews notes that a March 2009 study by Informational Resources found that 67% of Americans reported spending more time at home with their families than in the past - and 67% are eating more family meals together.  They also point to a July 2009 Technomic study that found that over one-third of consumers (36%) report they are entertaining at home more with 40%.  And to Faith Popcorn's BrainReserve Fall 2008 research finding that 72% of consumers reported "spending a good deal more time at home entertaining themselves and others." 
• Investing in your own 'entertainment assets' - consumers are more than ever understanding that they can save by investing in technology and other leisure related equipment.  Even in a recession environment, households of all income levels are increasing the percentage of total income spent on home entertainment electronics and related services.  Sales of fitness equipment and related digital instruction remain high.  Sales of board games increase even as the overall toy market declines. 
• Socializing OnLine - the expense of going out to socialize is not as necessary in this age of digital social networking, online shared gaming, and informal video conferencing.
• Valuing Experience over Commodities - leisure consumers continue to value a quality experience over yet another mass produced program.  And they are finding that the best value is created by a peer group, a community of interest that gradually understands member needs and collectively customizes the leisure opportunty accordingly. A number of recent studies demonstrate that there is more satisfaction derived (and happiness generated) by the experiential purchase than from material accumulation.
• The Staycation - tourism is in fact simply recreation away from home.  Today's consumer is less willing/able to put a travel vacation on the credit card and unable to save in advance.  The trend is to seek out more affordable leisure experiences near to home while on holiday.  Local tourism also allows for warm-up visits and follow-through in the months after the holiday.