Branding and advertising expert Andy Rice says the experience economy is about going from extracting economies, to making goods, to delivering services and to staging experiences. Crucially, the branding expert says you have to keep refreshing the experience...
You can’t give them the same experience, you have to keep it fresh.— Andy Rice, brand guru
He says the experience has to happen in terms of consumption and quotes brands like Virgin Atlantic, the recent Magnum pop-up store in Rosebank, and Audi.
The experience economy is the term used to describe the evolution of value-added benefits that culminate in a brand like Starbucks, where what is being sold is not coffee but rather a multi-layered experience.