Taylor Swift's Concerts Drive 'Funflation,' Boosting Live Events While Hurting Other Industries
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"Funflation" refers to people spending money on experiences like concerts rather than products during inflation.
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Live events are booming - Taylor Swift's Eras tour generated an estimated $5 billion in economic activity.
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Swift, Beyoncé tours credited with contributing 0.7% to Q3 consumption growth in the U.S.
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But fun spending hurting other industries - Best Buy blamed Swift for lower electronics sales.
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Swift's concert film breaks box office records, showing ongoing public appetite for live events.