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The experience economy is booming, but it must benefit everyone (WEF 2019)

The experience economy has become a constant component in my talks and presentations, riffing of Gilmore & Pine’s 1999 and 2005 book. Here are some good quotes from a recent WEF article

“In our overpopulated world, stuffed with an ever-growing stockpile of products, offline experiences have become key to personal fulfilment. While 78% of millennials choose to spend money on a desirable experience over something material, the trend extends beyond just young people, to every age bracket and socioeconomic class. This tidal wave is already having extreme effects on the global economy and traditional business models. It requires a fundamental shift in how we look at everything, from revenue growth to personal happiness. Ultimately, the shift to an experience economy has the power not only to change how we spend our time and money, but also to promote inclusion and democratize happiness”

“As the forces of the Fourth Industrial Revolution accelerate, consumers are enjoying the benefits of rapid innovation and new models of consumption, but also struggling to maintain a sense of connection and understanding our rapidly changing world. In that context, it should be no surprise that experiences, especially transformative ones that educate, inspire and bring people together, are growing in popularity.”
The experience economy is booming, but it must benefit everyone

Read more at WEF

More links 

HBR 1999 article (5*)

James Harkin in The Guardian 2005

Experience is human (Gerd)

Gerd’s keynotes and videos related to the Experience economy

 

 

 

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