The Rise of the Experience Economy
In recent years, an increasing amount of emphasis is being placed on the "experience" rather than the material goods. For example, while Airbnb started as a platform for people around the world to offer their homes to guests, it has now expanded into a one-stop-shop for homes, activities, and unique experiences people may want to have when visiting a city. Other companies and organizations have also shifted their focus to more experience-oriented business models.
As marketers, it's important for us to keep up with this trend. Check out some helpful statistics illustrated by FastCompany:
Why Airbnb, Target, and Walmart are betting on the experience economy
The experience economy is redefining retail environments. Here’s a look at how, by the numbers.
BY CLAIRE MILLER | 1 MINUTE READ
Consumers are increasingly choosing to spend their money on experiences rather than material goods. To keep up, retailers are trying to sell their customers both. More U.S. malls are sparing space for experiential offerings then ever, and now, the already revolutionary Airbnb is helping travelers get out of the houses it provides them with and into the world with Airbnb experiences and Airbnb Adventures. Here are the trends in the market that makes memories.
A version of this article appeared in the September 2019 issue of Fast Company magazine.