TrendSights Analysis: Experience Economy
The Experience Economy trend reflects growing consumer desire for immersive consumption moments. An increasingly one-dimensional shopping experience, coupled with an emphasis on 'experience' rather than 'things', means that consumers are willing to pay more for an enhanced 'brand experience' which can extend beyond the initial consumption moment by hours or even days, and involve sharing with family and friends in unique consumption settings.
Experience Economy is a trend with growth prospects across almost all FMCG categories, including but not limited to Food, Alcoholic Drinks and Cosmetics & Toiletries.
Experience Economy reflects consumer desire for more immersive consumption experiences, and stems from consumer dissatisfaction with the nature and context of everyday consumption.
Brands must do more to attract consumers by building experiences or moments into products, and allowing consumers to experience products in unique, highly personalized ways.
This report examines what Experience Economy means as a consumer trend and why it is important, who is likely to be the target audience, how FMCG brands can best capitalize on the trend, and what the future outlook for the trend will be.
Reasons To Buy
Understand which audiences are most affected by the Experience Economy trend.
Compare the presence of this trend in each industry across the FMCG space, and learn what the key opportunities are.
See the actions that major brands are taking to get ahead of the greater interest in Experience Economy.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook