Abstract
Purpose This trends paper is based upon a literature review and access to a series of databases; thus, with the help of these the purpose of this paper is to provide insight into changing consumer behaviours. Design/methodology/approach This paper explores how the experience economy will evolve and outlines the micro and sub-trends that will shape its future. Findings This paper identifies seven micro trends associated with the experience economy. The micro trends are: once is never enough, luxury experienced, leisure upgrade, escape from modernity to authenti-seeking, fluid identity, everyday exceptional and experience first. Originality/value This trends paper provides useful insights into the experience economy for researchers, practitioners, students or interested parties. Going beyond a broad interpretation, it focuses on specific micro trends in action.
Highlights
This paper identifies seven micro trends associated with the experience economy
The experience economy dominates the philosophy of tourism: It permeates how we engage with tourism and how we consume tourism
The experience economy is a fluid concept and that fluidity is a representation of its future and transformation
Summary
The Experience EconomyThe experience economy dominates the philosophy of tourism: It permeates how we engage with tourism and how we consume tourism. The literature tells us that tourists want to encounter a whole range of experiences such as holidays abroad, cultural events, fine dining or cutting-edge leisure activities, (Pine & Gilmore, 2011) They want to enrich their daily lives by experiencing new things and undertaking activities that deliver self-improvement, enjoyment and revitalisation. The most premium of experiences cleverly create even more hype by eschewing social media altogether – though shareability and status-boosting is still key. Cult venues such as www.sohohouse.com and www.secretcinema.org ban mobile phones so guests cannot take photos, which could be considered a riskier approach for brands who want to build reputation. Those with the means to access the sector will expect the experiences they collect - in-store, on holiday, online - to surpass those available to a mass market clientele
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