Experience economy is the latest phase in the progression of economic value, following the agrarian economy, industrial economy, and service economy. It’s the idea that businesses must create memorable events for their customers, and that memory itself becomes the product. The digital economy is accelerating the shift towards the experience economy.

Digital tools and technologies, such as social media and mobile devices, are enabling businesses to create more personalised and immersive experiences for their customers. These experiences are not just about the products or services being sold, but about the way customers feel when they interact with a business.

Businesses that are successful in the experience economy are those that understand their customers’ needs and desires, and use digital tools to create experiences that meet those needs. They recognise that customers are not just buying products or services, but experiences that make them feel a certain way.

The experience economy is not just a concept, but a reality that is reshaping the business landscape. Businesses that fail to adapt to this new reality risk being left behind. The experience economy is the cornerstone of the digital economy, and businesses that want to succeed in the digital age must embrace it.

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