CHAPTER 2: TRENDS AND DEVELOPMENTS: CONSUMERS’S PURSUIT OF
HAPPINESS
THE EXPERIENCE ECONOMY
The experience economy is centred around the creation of experiences. In other words, it is not
about products or services anymore, but all about authentic experiences.
The experience economy is new. Economists distinguish four economic stages, of which the last one
is the experience economy. Each of the stages is characterized by things that determine whether or
not the consumer makes a purchase. These as value creation and ‘consumer orientation’.
Agrarian economy
The emphasis is placed on making goods from the natural world. Consumer sensitivity is connected
with the availability of the products.
Industrial economy
The manufacturer concentrates on the production of goods. The focus shifts towards the cost
factors. Price is a critical factor in the consumer’s decision-making process.
Service economy
There is a shift from offering products to delivering services. Rather than price, quality is now the
decisive purchase criterion.
Experience economy
The consumer wants to be engaged on an emotional level, and consumer sensitivity shift from
service quality to experience authenticity.
THE AGGREGATE EXPERIENCE
Organizers make sizeable investments in the ‘aggregate experience’ and pull out all the stops to
stimulate visitors’ senses. Suppliers are aware that the product focus no longer suffices and that the
consumer wants to be engaged on an emotional level.
MORE THAN JUST LIVE MEETINGS
An intensified crossover between real-life and virtual experiences is to be expected. An example of
this is the Opera in New York that are live recorded and shown in cinemas through Europe.
CO-CREATION
Co-creation refers to the changing relationship between supply and demand. As a result of
technological advancements and the emergence of new media, it has become easier for consumers
and producers to enter into dialogue with each other. Consumers are becoming prosumers, which is
a combination of consumer and producer, and are starting to work together with suppliers.
In the future, it may even be possible that the relationship between suppliers and customers
becomes so diffuse that the consumers know better where to find each other and will become a
serious threat to the existence of commercial event agencies.
Another kind of event is ‘secret events’. This concerns event which as accessible only to a select
target group.
, DEVALUATION OF THE EXPERIENCE CONCEPT
The experience concept is exploited excessively. The concept will become eroded and unusable at
some point. At the same time, today’s globally oriented communication society has resulted in
consumers who are much better informed and demanding. Today’s event visitors want more in a
smaller amount of time and they are willing to open up their wallets.
THE ADVANCE OF HAPPINESS: THE HAPPINESS ECONOMY
Characteristics of this new economy stage is that suppliers are taking on the challenge of bringing
about permanent changes in the consumer and to help him give his live meaning. The key purchase
criterion in this stage can be designated as happiness.
ENABLING HAPPINESS
Someone distinguishes three components of happiness, which are: positive emotions, commitments
and meaning and purpose. The two latter appear to be the most important to fulfilment in life.
ORCHESTRATED HAPPINESS
Every individual has authentic talents that give him energy and allow him to function optimally, if he
is able to put them to use. The trick is to make these talents flourish, not only in the interest of the
individual himself, but also in the interest of the community in which he resides.
If happiness can be influenced, the leisure managers of the future should not be experience stages
but happiness managers, with expertise in the area of ‘quality of life’. They should have the
knowledge of factors that promote the consumer’s individual well-being and be able to put this
knowledge to use in the context of events.
HELPING PEOPLE TO HELP THEMSELVES
The individual’s autonomy must not be compromised by patronizing or manipulating his emotions. It
is crucial to create possibilities to allow individuals to follow their own dreams.
MEANINGFUL LEISURE PRODUCTS
The first signs of the progression from experiences to meaning have already manifested themselves.
The focus of products and services has shifted from the temporary flow experience towards the
lasting optimization of the leisure user’s contentment with life.
EVENTS WITH ADDED VALUE
The event sector has been directing its attention towards the concept of meaning and purpose for
quite some time now. For example, events in connection to charities.
CORPORATE SOCIAL RESPONSIBILITY
Social responsibility can be made part of the corporate philosophy. The starting principle in a strategy
of this kind is to take the balance between people, planet and profit into consideration in all business
decisions.
INNOVATION OPPURTUNITIES
The changing economic context creates opportunities for innovation. The challenge for the event
manager of the future is to create innovative event concepts – consistent with the happiness
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