Cashing in on the Experience Economy
There is a growing trend being lead by the millennial generation that can’t be ignored. People of all generations are now choosing to spend on “experiences” over physical goods. Over the past few years, experiences have grown four times faster than expenditures on goods. So what is really igniting this trend and how can brands take advantage of this opportunity? It is essential to tap into the personas of the individuals that are spurring this trend and visualize the brands that have fully exploited this opportunity to see massive profits.
After this session, you’ll be able to:
- Understand the trends in the experience economy to predict where it is headed
- Deliver a strategy around what customers want
- Learn to monetize this trend without blowing your whole budget
- Start immediately implementing these insights into your marketing mix