Unleashing the Power of Passionomics

Unleashing the Power of Passionomics

The Big Picture

We’re witnessing a new cultural movement taking shape—one that’s defined by a desire to spend time, money, and energy on what matters to us most.

When today’s consumers think about how they spend their time and money, they’re prioritizing passions, well-being, relationships and experiences. And marketing must reflect that shift in consumer sentiment. Sixty percent of respondents to a Mastercard study, which explores the passion landscape across the globe, are actively saving to indulge in what they love. We call this movement toward finding joy and fulfilment by investing in areas of passion, “Passionomics

So, what exactly is Passionomics? And how do marketers harness it to break through to today’s consumers? It’s the study of how individuals allocate resources—time, money, and attention—around their passions and how that in turn drives economic impact. Passionomics goes beyond simply analyzing consumer spending. It digs deeper: focusing on understanding the motivation behind their spending priorities and the impact that has on personal fulfilment. Whether it’s travel, gaming, sports, or the arts, Passionomics reveals how personal interests shape our sense of self, and in turn, our purchasing choices, which are creating a ripple effect by influencing broader market trends. It’s a fascinating lens through which to view economic trends. Passionomics emphasizes the need for marketers to evolve beyond campaigns focused broadly on personas and demographics and shift our focus to passions — and the communities built around them — to resonate with consumers in a meaningful way. Leveraging data-driven analytics, like Passionomics, can be a game changer in how marketers understand consumers. Research into the latest and growing spending trends uncover new opportunities for businesses to meet consumers where they’re headed.

Why this Matters to Marketers

In today’s experience-driven world, brands that recognize and support consumer passions can stand out in a crowded market. And as consumers prioritize experiences over material goods, Passionomics can be a path to creating more authentic connections with audiences.

Music, for example, is a universal passion with proven positive effects on our body and soul. And 75 percent of respondents to our study say time spent on passions is a form of stress relief. In fact, Dr. Francis Collins, the American physician and scientist and former Director of the National Institute of Health, recently appeared on The Late Show with Stephen Colbert to explain the power of music in increasing endorphin levels. Speaking to these passions, like music, can have significant economic impact as well. Take Taylor Swift’s The Eras Tour, for example. It’s a massive cultural force that, between hotels, restaurants, and local shops, has had a real boost on the local economies along its route. Spending at restaurants within 2.5 miles of the stadium surged by an average of 68 percent per day — a phenomenon we at Mastercard call “The Swift Lift.” This data is a prime example of Passionomics, demonstrating how deeply fan passion—and spending on experiences linked to those passions—can tangibly boost local economies and have a ripple effect on various sectors. Travel is another universal passion that is flourishing as consumers opt to invest in moments and memories. According to Mastercard Economic Institute, 10 of the last 10 record-setting spending days in the global cruise and airline industry occurred in 2024.

My Take

While traditional marketing targets through demographics like age or gender, we segment through passions, reaching people through universal interests like culinary arts, sports or travel. We’ve identified 10 universal passion points that we build experiences around, and Passionomic insights empower us to understand motivations behind consumer behavior and ultimately create an emotional connection.

In addition to experiences, we’ve built products that speak directly to passions, making it easier for consumers to access what they love. Our Passion Cards are designed to cater to specific interests and go beyond traditional rewards, offering experiences that connect superfans to their passions every time they pay.

But it’s not enough to just identify these passion points — brands must speak to them in authentic ways. Here are two passionate communities we’ve reached:

·       League of Legends. Traditional marketing would identify “gamers” as a broad demographic, but we went further by tapping into the explosive growth of esports, becoming the first global sponsor of League of Legends. The game has since broken viewership records at its 2024 World Championship. We offer the League of Legends Card, with 50 design variations, perks, and chances to win trips to League of Legends Worlds. Our Mastercard Economic data shows that this passion has boosted global online gaming spending, up 7.5 percent. We believe so much in this growing passion that this year we introduced the Unlock Africa Esports Summit, a first-of-its-kind event in the region, which brought together business leaders, fintechs, governments, and SMEs from across Africa to discuss the incredible opportunities within this segment.

 

·       Football fans / UEFA Champions League. We are constantly seeking opportunities that resonate deeply with the fans we serve, which is why we chose to partner with the UEFA Champions League. Football, with its massive global fanbase, offers a unique opportunity to connect with passionate supporters in a more impactful way. By focusing on Champions League fans, we are able to deliver extraordinary experiences that go beyond the game itself. Through the UEFA Champions League Card, football enthusiasts gain exclusive benefits, access to unique content on priceless.com, and the chance to win once-in-a-lifetime experiences, all tailored to amplify their love for the sport.

In a world driven by the pursuit of meaning, Passionomics offers a roadmap to gauge what people care about beyond essential spending, and helps marketers see how consumer spending around those passions has a ripple effect on businesses.

As marketers, we have the tools to really understand our customers—so let’s use them. It’s more important than ever to responsibly use these tools, including data-driven analytics—like Passionomics—to better understand our customers and create experiences that resonate.

Daniel Ngwira

Director of Communications at Institute of Marketing in Malawi

1w

Passionomics takes care of the simultaneous roles of both the intellect and emotions in the consumer purchasing decisions. Clearly, emotions play a crucial role in so many choices we make especially for things we are differently passionate about. Great piece!

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Jinia Nice

"💡Advanced SEO & Business Growth Consultant | Driving Visibility & Revenue for website owners"

1w

Excited to dive into your insights and explore how this movement shapes the future of meaningful brand engagement.

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Absolutely Stunning. I do love a lot to read your articles. 😊

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Samuel Sabastine

Art Director at Niralab

1w

Thank you for sharing, this is insightful

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