Skift Take
Skift's latest research shows a clear shift in demand for more transformative travel experiences among upscale travelers, but we expect many brands will jump on this trend without offering anything significantly new in terms of product or programming.
Joe Pine and James Gilmore co-authored “Welcome to the Experience Economy” in Harvard Business Review in 1998, which they followed up in 1999 with the bestselling book, “The Experience Economy.”
Their central theme emphasized that businesses have to provide a more visceral, more memorable experience to engage the next generation consumer effectively, whereby the memory-making process becomes an embedded part of the product or service delivery. That sparked the birth of modern customer experience management, and it ushered in a tidal wave of mainstream marketing that repositioned everything as "experiences."
Today, Pine suggests that the next logical evolution of the experience economy is the transformation economy.
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“We’re now going beyond the experience economy to what people are calling the ‘transformation economy,’ where an experience changes us in some way during a particular moment in time,” he says. “When you can easily design the experience to be so appropriate fo
