The Experience Economy

by Cem Basman

Now, this is not brandnew but it is interesting, Anjana Ahuja has a theory (or is it an observation?):

How we spend our money is changing. In the new 'experience economy' we pay to do things, not have things.

Furthermore,

Rather than upgrading our car or television, we’ll spend the cash in coffee shops, hotels, restaurants, sports clubs and theme parks. We’ll splash out on European city breaks or walking the Inca trail. Experiences, in other words.

We are going from product economy, to service economy, to experience economy, as Ben Canocha puts it. Think about it what this means for your own business ... Play with this idea. Think radical. Spin a little.

Comments

Whatever happened to "knowledge economy"? Are all the knowledge workers out getting experiences?

Slawek

Slawek Rogulski, 2006-02-20

Not exactly THAT new. When you look in Germany's post war history:

- Fresswelle
- Einkaufswelle
- Reisewelle
- Erlebniswelle

Once you bought all the stuff, why should you upgrade. Shifting your TV from 20" to 40" doesn't make the program less crappy. Do people finally graduate from second hand experience (watching on TV) to actually doing it themselfs?

@Slawek: The knowledge economy is the supply side for the demand side experience economy.
My 2c
:-) stw

Stephan H. Wissel, 2006-02-20

Well, but looking at it a little more closely: Isn't the "experience economy" the demand side and the supply side the "service economy"? When I spend money on a travel trip to experience something, what do I actually spend my money on? Services such as airline transportation, hotel accomodation, travel guides and tours, etc. pp.

I.m.h.o. really nothing new at all... As we say in Germany: Alter Wein in neuen Schläuchen!

Ragnar Schierholz, 2006-02-20

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I explain difficult concepts in simple ways. For free, and for money. Clue procurement and bullshit detection.

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