Going out is expensive. Dinner for two can easily cross $100, concert and sports tickets have surged, and even everyday entertainment can start to feel like a splurge. So how is that changing the way we spend our time and money?
In this episode, we dig into the rising cost of going out and the shift toward being much more intentional about which experiences feel worth paying for. We talk about cutting back on restaurants, the appeal of affordable local entertainment, why people may still happily splurge on a bucket-list concert or playoff game, and the rise of what they dub “experience maxing.”
1. Going out is increasingly becoming a luxury.
The cost of restaurants, concerts, sporting events, and other live experiences has climbed enough that people are becoming more selective about how often they go out and what they’re willing to pay for.
2. People are still spending, but they want the experience to feel worth it.
A higher price doesn’t automatically stop someone from spending. The bigger question is whether the experience delivers enough value, whether that’s an unforgettable concert, great service, recreation, connection, or something they simply can’t get at home.
3. Affordable experiences may have a major opportunity.
Packed mid- and low-priced restaurants and inexpensive local entertainment suggest people still want to get out of the house. They may simply be gravitating toward options that let them socialize and have fun without paying premium prices.
4. “Experiencemaxxing” could be changing how we spend.
Instead of routinely going out several nights a week, people may choose one experience they really care about, spend generously on it, and then spend much less for the next several weeks. That creates a very different pattern of discretionary spending.
5. Businesses may need to give people more reasons to leave the house.
When streaming, cooking, entertaining friends, and other at-home options are convenient and inexpensive, simply offering a product or service may be less compelling. Businesses that create community, entertainment, recreation, or memorable experiences around what they sell may have an advantage.
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