Innovation of the Day: Fairwood
Fast food chain joins in esports fun
Fast food chain Fairwood has opened Fairwood Esports, Hong Kong’s first restaurant and entertainment concept where patrons can dine and game at the same time. Opened in July 2019, the space has six different zones featuring over 100 seats for casual dining, a bar supplying local craft beer, an esports area where gamers can battle each other in online games while eating, and a main stage to support esports events. Players can also livestream their games in dedicated areas.
This innovation was brought to us by one of our amazing tw:in trend spotters, Tiffany Lung from Hong Kong. Here are a couple reasons why we love it:
The experience carousel. We don’t have to tell you that consumers today often prefer experiences over products. And we’ve seen that fuel a welter of brands seeking to smash out of their vertical in order to deliver new kinds of experiences: magazines open shops, shops open hotels, hotels open restaurants, and now a restaurant is opening a gaming cafe. Can you cross verticals, strike partnerships or cram multiple engaging experiences together to deliver something truly new? Read our report on the Future of Experiences for more inspiration.
The E word. This year, global esports revenues will for the first time top USD 1 billion, and in China alone the esports market is projected to be worth USD 3 billion by 2020. Walmart recently installed esports arenas inside its stores, IKEA is 3D-printing chairs for gamers, while South Korea Telecom’s esports team has so far made USD 8 million from tournament winnings. Now even a fast food chain is joining in the fun. The implication for you: a new form of elite sport is emerging, and there are huge opportunities in play. Can you serve elite gamers or esports fans, strike sponsorship deals or media partnerships, host events, create merchandise or something else entirely? The list is endless!
THE TRENDS FOR 2020
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