The Event Tickets market in Mongolia is experiencing significant growth and development. Customer preferences are shifting towards attending live events and entertainment, resulting in an increased demand for event tickets. This trend is driven by several factors, including the desire for unique experiences, the growing middle class, and the influence of social media.
Customer preferences: Customers in Mongolia are increasingly seeking out unique experiences and opportunities for entertainment. Attending live events, such as concerts, sports games, and cultural performances, allows them to escape their daily routines and immerse themselves in the excitement and energy of the event. This desire for unique experiences is driving the demand for event tickets, as customers are willing to spend their disposable income on these types of activities. The growing middle class in Mongolia is also contributing to the development of the Event Tickets market. As more people enter the middle class, they have more disposable income to spend on leisure activities. Attending live events is seen as a status symbol and a way to showcase one's social standing. This has led to an increase in demand for event tickets, as individuals strive to be part of the social scene and attend popular events. The influence of social media has also played a significant role in shaping customer preferences in the Event Tickets market. People are increasingly sharing their experiences on social media platforms, such as Facebook, Instagram, and Twitter. This has created a sense of FOMO (fear of missing out) among individuals who see their friends and acquaintances attending exciting events. As a result, there is a growing desire to be part of these experiences, leading to an increased demand for event tickets.
Trends in the market: One of the key trends in the Event Tickets market in Mongolia is the rise of online ticketing platforms. These platforms provide customers with a convenient and efficient way to purchase event tickets. Customers can browse through a wide range of events, compare prices, and make their purchase online. This trend has led to increased competition among ticketing platforms, as they strive to offer the best user experience and attract customers. Another trend in the market is the diversification of events and entertainment options. In addition to traditional events such as concerts and sports games, there is a growing demand for niche events and experiences. This includes events focused on specific interests, such as food and wine festivals, art exhibitions, and wellness retreats. The diversification of events caters to the evolving preferences of customers and provides them with a wider range of options to choose from.
Local special circumstances: Mongolia has a rich cultural heritage and a strong tradition of performing arts. This has contributed to the popularity of events such as traditional music and dance performances, as well as theatrical productions. The local special circumstances in Mongolia, including its unique cultural offerings, have created a vibrant and dynamic Event Tickets market.
Underlying macroeconomic factors: The development of the Event Tickets market in Mongolia is also influenced by underlying macroeconomic factors. Economic growth and stability have resulted in an increase in disposable income, allowing individuals to spend more on leisure activities. Additionally, the government has been supportive of the arts and entertainment industry, investing in infrastructure and promoting cultural events. These factors have created a favorable environment for the growth of the Event Tickets market in Mongolia.
Data coverage:
The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.Modeling approach / Market size:
Market sizes are determined through a bottom-up approach, building on predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.Additional notes:
The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.
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