Research indicates that about a quarter of ticket buyers are willing to spend more, with Oasis fans projected to invest over £1 billion in reunion tours, covering tickets, lodging, food, drinks, outfits, and merchandise.
The band’s first concert in 15 years is set to be one of the most lucrative and popular gigs in British history.
A survey conducted by WonderWallets, part of the Barclays Consumer Expense Report, suggests that 1.4 million fans attending the 17 UK tour dates will collectively spend around £1.06 billion.
However, there’s some frustration among fans due to the “dynamic” pricing scandal, where attendees paid more than £350 for tickets that originally cost £150, sparking an investigation by the UK’s Competition Watchdog.
Despite this, around 60% of ticket holders believe that seeing Liam and Noel Gallagher live is worth the extra cost, even if it means spending more than they initially intended.
Accommodation is expected to be the largest expense aside from tickets, with an average cost of £108. Fans are anticipating spending about £70.50 on the concert trip and around £73.70 on new outfits, in addition to approximately £59.70 on merchandise.
Food and drinks before the concert will average over £75, with pints at venues like Wembley Stadium and Manchester’s Heaton Park costing about £8.
The projected £1.06 billion in spending surpasses last year’s US singer’s UK tour by over two nights, exceeding the estimated £997 million spent on Taylor Swift’s ERAS tour, according to Barclays.
To justify the costs, 16% of fans indicated that they purchased tickets as gifts, while 30% described them as “essential” because the band’s music holds a significant place in their lives.
Barclays pointed out that this spending is a positive sign for the hospitality and leisure sector, with a 60% increase in consumer spending on non-essential items, like concert tickets and experiences, marking the highest level in three years as of April.
Rich Robinson, head of hospitality and leisure at Barclays, remarked, “The experience economy is not just a trend. It represents a shift in how consumers prioritize their spending.” He added that, as evidenced by the ERAS tour, fans are willing to splurge when there is a deep emotional connection, indicating that attending events is about much more than just the occasion itself.
