The attractions, entertainment and leisure industry is growing rapidly in Southeast Asia.
Research by the Themed Entertainment Association (TEA), a global non-profit organization focused on the attractions, entertainment and leisure industry found consistent year-on-year growth in the region, with a 5.5 percent increased visitor rate in 2017 alone. Another report also outlines the reasons for the ongoing surge and discusses trends and opportunities available to venue owners in the business of ‘fun’.
What's behind the growth?
According to the report, the main reasons for growth in the region are increased discretionary income levels, stronger park-to-population ratios and more widespread digital connectivity. Companies as a whole in the Southeast Asian region are generally ahead in the adoption of disruptive technologies. This includes attractions, entertainment and leisure venues, who are in many ways well ahead of their western counterparts when it comes to their use of the latest technology. For these reasons, by 2020, Asia is tipped to become the world’s largest attractions and leisure market.
Although the region has a progressive attitude towards technology, the leisure and attractions industry as a whole is often cited as lagging in its adoption of technology. A report from industry analyst Arival, states that the technology used in venues “is comparable to hotel-industry technology of 10 or even 15 years ago”.
Entertainment venues in Southeast Asia, however, use technology to focus their efforts on providing a more personalized experience. This means they have a clearly defined objective of attracting the right audience to their venue and providing them with a more meaningful experience.
One of the easiest ways to achieve this is through the use of customer data. Effective customer relationship management (CRM) solutions make it easy for you to analyze your customers’ purchasing behavior across their journey cycle.
Meeting customer demand
While the appetite for fun continues to grow, it’s the venues that adapt to the changing needs of customers who will benefit the most. Consumers today are looking for much more than they were getting in the past. Using data to observe their needs leads to a clearer understanding of what must be introduced to increase customer flow and generate more revenue.
What does the future look like?
When we talk about growth in the global attractions, entertainment and leisure industry, much of the contribution will come from Southeast Asia. The main fuel for growth will be increased income levels followed by technological advancements leading to more individually tailored entertainment activities.
An article in Blooloop quotes Alan Wright, CEO of Picsolve, who says “we live in an era of technology-enabled content and consumers now expect an integrated, digital experience. The Southeast Asian region understands the importance of creating exciting content and empowering their visitors to share it instantly, wherever they are.”
Opportunity leads to profit
What this report tells us is that being forward-thinking in your industry is crucial. Increasing revenue and reducing costs are naturally the objectives of any successful business plan. Implementing technology is an easy way to achieve these objectives. However, every business will outgrow its technology at some point if it fails to continually monitor the technology’s capabilities compared to its own growth.
If your technology becomes outdated and makes it hard for you to take your business where you want it to go, you will naturally fall behind the competition. Ultimately, venues that make smart decisions and adopt the latest – and proven – technology that is also future-proof, will find it easier to run day-to day operations and most importantly, satisfy customers.
Finding a software solution that's right for you
ROLLER’s cloud-based all-in-one software is shaking up the global attractions, entertainment and leisure industry, much like the forward-thinking venues in Southeast Asia. The all-in-one solution provides easy-to-use and customizable ticketing, point-of-sale, CRM, entry management and digital waiver software. ROLLER also offers gift cards and other digital solutions for venues.
Like the venues we serve, we continually innovate and push the boundaries to maintain our place as industry leaders. We do this by developing flexible and scalable solutions that offer customers a better, more unique experience, while improving their core business metrics.
This is why ROLLER has such a diverse global customer-base, including theme parks, trampoline parks, museums, zoos, water parks and more.
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