The experience economy: do-it-yourself

There’s a lot pf excitement around the business opportunities in the ‘experience economy’:

In 1998, the term “experience economy” entered the business lexicon as a way to define the commoditization of experiences, differentiating them from goods and services as crucial consumer-driven offerings.

The importance of innovating for the experience economy | clickz.com

No list of seminal business books would be complete without The Experience Economy, the 1999 bestseller by American academics B Joseph Pine II and James H Gilmore. They argued that the selling of experiences was the fourth great stage in our consumer development after commodities, goods and services.

The experience economy will not fully recover – consumers will pay to perform in future instead | theconversation.com


What’s interesting about that last article quoted from by Brendan Canaan, Senior Lecturer in Marketing, University of Huddersfield, is that the ‘consumer’ will be doing the commoditization:

Etsy offers a place to not just purchase crafts, but also to set up shop oneself. Craft, which demonstrates both skill and self-expression, can be a performance. Etsy can help consumers to craft and display who these people are as much as their macramé bracelets.

The experience economy will not fully recover – consumers will pay to perform in future instead

Indeed, companies are increasingly interested in engaging with ‘the maker community’:

Consumer Change | A new eco-system for making and the search for authenticity – Snook

And back when Etsy started up, “At last count, more than 70,000 – about 90 percent of whom were women – were using Etsy to peddle their jewelry, art, toys, clothes”:

Craft capitalism: Just do it yourself – The New York Times