From Service to Experience: A Comparative Study between the Experience Economy and the Services Economy 10.35781/1637-000-121-006

Abstract

This study explores the application of the Experience Economy concept. It begins by defining the notion of experience, its economic dimensions, and intellectual roots. The study distinguishes between the Experience Economy and the Service Economy, highlighting that the former involves the sale of goods or services accompanied by a significant experiential impact on the consumer. It emphasizes that the beneficiary undergoes an immersive, memorable experience distinct from the mere consumption of goods or services. A descriptive analytical methodology was employed, involving data description and statistical analysis. The study's findings indicate that applying the Experience Economy concept contributes to enhancing habits, gains, and positive emotions through an experience not merely priced, as in the Service Economy. It also confirms that transformations within the Experience Economy are linked to producing goods or services rooted in science and creativity, adding unique value. This requires the consumer's sensory engagement and emotional involvement to shape their unique experience. The study asserts that a successful experience relies on creative and innovative elements, leaving an unforgettable impression. While the Service Economy emphasizes service completion before, during, or after delivery—focusing on efficiency, beauty, and seamless transition ("out of routine") —the Experience Economy emphasizes the complete experience of the beneficiary and the context of delivery. It includes consultative opportunities for both existing and new goods/services.