The term “experience economy”, supposedly first used by economists Pine and Gilmore in the 90s for Harvard Business Review, described the growing trend in our society where individuals value experiences over material possessions.
It encompasses the idea that people are willing to pay a premium for memorable and authentic experiences. In this economy, businesses are no longer just selling products or services; they are creating immersive experiences that leave a lasting impression on their customers.
Whether it’s a memorable vacation, a thrilling concert, or a unique dining experience, the experience economy is all about delivering more than just a product or service – it’s about creating memories that last a lifetime.
Michael's Musings 