Funflation: A Taylor-made show?

The willingness to splurge on live entertainment is reshaping consumer behaviour

The term “funflation”, which has become much more than just a catchphrase, describes a recent phenomenon wherein people are willing to pay staggeringly increasing costs for live entertainment, such as four-figure tickets for a Taylor Swift show or higher prices for Disney theme parks, despite economic uncertainty and dwindling household budgets.

Typically, consumers tend to spend less overall and primarily on necessities during periods of high inflation. According to data from the Bank of America, however, consumers in North America have actually spent more through summer 2023 compared to their income on “fun” experiences rather than goods. The trend also