Art, obsession, and identity
The experience economy focuses on providing engaging and memorable encounters for consumers.
In many places, less cars are on the road since many companies have employees working from home.
With more people working from home, many do not need to travel to conferences or other business trips. This also has an impact on our environment.
However, many have qualms about moving every encounter to the virtual world. Some complain of 'Zoom fatigue' and the pressure to be constantly available.
Technology is ubiquitous and that fact can lead to overwhelm for some people.
While some may think team morale will suffer as a result of working from home for extended periods of time, the truth is team building is still a priority for businesses. Some institutions are hosting virtual happy hours, for instance.
It's not only businesses utilizing video conferencing tools. So, too, for instance, is the medical field.
With vaccines available, many wonder if life as we once knew it will ever return.
Zoom has increasingly become a video conferencing tool the majority of businesses use during the pandemic.
Tech companies like Google will likely follow the pack of tech giants into the metaverse. This will require investment into research and production tools for consumers to participate in the metaverse. Virtual headset and goggles are already on the market.
It's believed that people will continue to work from home as the experience economy continues to evolve. Indeed, the experience economy post-COVID appears to be a large part of our lives, now and into the future.
Sources: (Handbook on the Experience Economy) (Forbes) (MIT News) (CNBC) (Venture Beat) (The Verge)
See also: The world's best countries to start a new business
Technology is considered a tool that allows people to optimize their lives, like scheduling calendar reminders for events, communicating via email, or video conferencing no matter where one is in the world. However, MIT professor Sherry Turkle's research shows how a push for more technology usage in our daily lives is negatively impacting our relationships with other people. Turkle believes these technologies left unmitigated can leave people feeling incredibly isolated.
Costs for hosting in-person events have decreased for many companies, encouraging their use.
Whether you enjoy going to the museum, a concert, or sharing updates on social media, it is obvious our lives increasingly revolve around some form of technology.
The pandemic has allowed more individuals to conduct business safely, and the impact it has had on the experience economy is obvious. More individuals are launching their companies with the goal of providing memorable experiences that will motivate customers to remain loyal.
For example, music instructors have had to adapt their teaching methods by using technology to cater to their students, recording themselves performing and sharing that with their students.
The experience economy is a concept that was fully defined by Joseph Pine II and James H. Gilmore in their aptly-titled 1999 book 'The Experience Economy.' The duo discussed the shift from a service economy to one laser focused on customizing experiences to the point of imparting a memorable encounter for the customer. This concept is something society has faced particularly since the start of the pandemic. For instance, more and more companies are migrating to video conferencing software to conduct business.
Intrigued? To discover more about the 'experience economy,' click through this gallery.
Some businesses have required employees to provide proof of vaccination or negative test results. However, more institutions are migrating to strictly virtual systems to keep their employees safe.
Due to the pandemic, businesses everywhere have changed their approach to operating, shifting from in-person dynamics to virtual-style institutions.
The experience economy post-COVID
From in-person to virtual events
LIFESTYLE Business
The experience economy is a concept that was fully defined by Joseph Pine II and James H. Gilmore in their aptly-titled 1999 book 'The Experience Economy.' The duo discussed the shift from a service economy to one laser focused on customizing experiences to the point of imparting a memorable encounter for the customer. This concept is something society has faced particularly since the start of the pandemic. For instance, more and more companies are migrating to video conferencing software to conduct business.
Intrigued? To discover more about the 'experience economy,' click through this gallery.