'Festivals are big and getting even bigger – in terms of the number being held each year, the size of the festivals and the number of people attending them. In fact, recent research* carried out for us shows that 14 million UK adults plan on attending a festival this year. And nearly three in 10 of these say they’ll attend more than one. With the average ticket price being over £200 for the major music festivals in the UK, that’ll be a fair few pounds flowing into the festival organisers’ coffers – a rough estimate being £2.3bn! And, if all those who say they’re attending a festival this year actually do it, it’ll represent a doubling of festival attendance in just three years!
Unsurprisingly, the keenest to attend are the younger generations, with just under half of both 18-24 and 25-34 year-olds saying they intend to purchase tickets for festivals this year. This is probably because camping is less appealing for older music fans, as they may not want to spend a few days stuck in a muddy tent.
And why has festivalling become such a big thing? Adrian North, director of psychology at Herriott Watt University offers up an explanation, “For some, membership of a tribe gives them self-esteem. If you are with people you think are cool it reaffirms your own lifestyle choices – you're basically patting yourself on the back."'
Quote from ThinkMoney.co.uk
10,000 units spread across the UK at £100 = £1,000,000
0.0007% of people attending a festival would need to purchase the product to sell out
Predicted 10,000,000 are target audience meaning that 1 in every 100,000 would need to purchase the product nationwide in order to meet product figures set
These ideal products are not being marketed towards the right target audience. Festival advertisement and product placement within the right stores would increase the sales of this product massively. This gap in the market can surely be exploited by any company willing to fill it. Much like timberlands asking the question "why can't work boots be incorporated into fashion?", the industry is calling out for someone to step in with another bold statement on practical fashionable footwear. Hunter wellies for women are the only competitor brand however, this is heavily linked with the female market and is in no way advertised towards the festival audience.
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