economy of experience

The economy of experience refers to a shift where businesses focus on creating memorable, engaging experiences for customers rather than just selling products or services. It emphasizes the value of personal interactions, emotions, and memorable moments that foster loyalty and differentiate brands. For example, a theme park offers more than rides—it provides immersive entertainment that customers cherish. In this economy, the goal is to evoke positive feelings and connections, making the experience itself a key product, which can lead to increased customer satisfaction, word-of-mouth promotion, and long-term business success.