Retail and the ‘Experience Economy’: are you ready for 2020?

Amy Morgans on millennials and the ‘Experience Economy’.

‘Studies show that millennials don’t want to part with their cash for mere “things” like their parents do; their preference is to spend their hard-earned cash on something less tangible. They are looking for the experiential, a preference bolstered by social media culture, where it’s more socially acceptable to brag about a week in the Maldives than a shiny Tag Heuer. 

Of course, that doesn’t mean that people will stop buying products – it just means that the experience of actually purchasing them is more important than ever.’