Experience economy

< Retail trends

Getting a fine cup of coffee quick and efficient is considered a service. As Joseph Pine, co-author of the book the Experience Economy explains: “Only when it becomes memorable, that’s when it becomes an experience.” Together with James Gilmore, he describes an evolutionary stage in the process of creating economic value. From commodities in the agrarian economy, to the trade of goods in the industrial economy, to the rise of the service economy in the 20th century. And now as companies are starting to create memorable customer experiences across all channels in order to set themselves apart from the competition – the Experience Economy is emerging.

Examples

 * At Rituals they say: we are not building shops we are creating experiences. An example of creating experience is the open your heart campagne.