The experience economy

Back in school, my Marketing professor spoke about the world moving to “The experience economy.” Hey, he just stole my thunder! Actually, based on the number of articles I can quickly find online, this isn’t a new thing–it’s more about a shift in thinking.

Starbucks is a great example of this, and in fact, they are taking it to another level. In Amsterdam, they recently opened a concept store to present a new “coffee experience.” Love it. So it isn’t just about the interaction between customers and Starbucks employees that count as experiences, it’s also the overall sensory experience. Starbucks plans to use “The Bank” concept store to experiment with ideas:

The Bank was purposely created to push Starbucks beyond its comfort zone in terms of innovation and experimentation. What works in the Amsterdam store will make its way to the rest of Europe.

I like the idea of Starbucks really pushing the boundaries of “a gathering place” that also provides products and services instead of being products driven only.