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TrendSights Analysis: Experience Economy

By: Canadean
, Published: Dec-2016
, Product code: CS0035TS
Key Insights
    • 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.

Companies mentioned in this product:

Pimms Carlsberg Sol Jaegermeister Zipz Lush Cosmetic Kitchen Weleda Poptacular Tesco Marks & Spencer La Colombe Draft Latte Gimdog Dragonfly Tea.
Table of Contents
1. Trend snapshot
2. What?
3. Why?
4. Who?
5. How?
6. What next?
7. Appendix
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TrendSights Analysis: Experience Economy
By: Canadean
Published: Dec 2016
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Summary

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.

Synopsis

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.
  • 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.

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.

Quick Overview

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.

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