Amusement, Entertainment & Fun-Filled Activities Are Pricier Than Ever, the Latest Transaction Data Reveals

Stickershock is nothing new for today’s consumers who face inflationary prices at nearly every turn. In fact, while steeper prices have been hard to avoid almost across the board, they’ve climbed to unprecedented levels in some areas, particularly with entertainment, events, and in-person experiences geared towards fun. 

 That’s why some consumer spending experts have recognized a new era of “funflation” that’s now turning the screws on wallets and leaving many folks feeling the sting of the exorbitant costs of having fun.

A Closer Look at Funflation, Rising Costs of Entertainment

Getting out to go to an amusement park or a concert in 2023 means shelling out a lot more on tickets, according to the latest credit card transaction data.

Now, however, many families are pulling back under mounting financial pressures. 

Has Fun Become Unaffordable?

Decades ago, going to concerts and getting out to experience fun in person wasn’t out of reach for budget-focused families and the average middle-class individual. Mirroring those ventures at today’s costs, though, has become near impossible. Even the most remote access — like nosebleed seats or basic entrance fees — are more expensive than ever.  

Examining the numbers and analyzing consumer spending on entertainment puts this into crystal-clear focus. In fact, according to some of the latest available transaction data, the rising costs of entertainment and live experiences have meant that:

Despite the constraints and demands on consumers’ wallets, however, this year’s spending on entertainment, amusements, and events is on track to grow by roughly 23% from last year. Additionally, retail consumer spending is poised to grow by about 0.7% from 2022.

Steady Consumer Entertainment Spend Means Fewer Transactions

The rising costs of getting out and having fun have not gone unnoticed by consumers.

How Venues Are Trying to Boost Consumer Spending Outside of Ticket Prices

For those who are willing to pony up the big bucks to still have fun these days, paying steep ticket prices is likely just the start of the spending that comes with these live experiences. Beyond that, some venues are finding ways to tighten the squeeze on consumers’ wallets after they walk through the door. 

 With all of that, some folks are rethinking what it means to get out, get together, and have fun. That’s meant shifting consumer spending trends, with some looking for more affordable alternatives that deliver the same level of amusement without draining their wallets.