The term “the experience economy” was coined in the 1990s to describe how customer experiences would become the main competitive battleground for companies. Today, we find ourselves in the middle of this new economy. In order to survive, companies now need to focus on “experience innovation” and increase their customers’ involvement in their innovation process.
What Joseph Pine envisioned when he coined the term “the Experience Economy” was a future where companies would compete through personalised experiences rather than products. As digitalisation has transformed our world, this prediction has now become reality. According to a 2015 Gartner study, a staggering 89% of companies said that they expected customer experiences to be…
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