Time is man’s most precious resource; it is, therefore, no surprise that people are placing a higher value on experiences than ever before. Acquiring irreplaceable memories, not things, has given rise to the experience economy, currently one of the biggest global trends. Now, more than ever, people desire unique, spontaneous and immersive entertainment, wherever they are, and whenever they want. They crave experiences that say something unique about them, which they can share with their friends and followers.
There are, however, a number of problems facing this new trend, firstly, real-life experiences are being replaced 24/7 by vicarious, screen-based pleasures: more than a third of the world’s population spend over 4 hours a day on their smartphones, with most primarily using these to consume, rather than as a tool to facilitate real-life. Secondly, there is too much choice. Far from liberating, abundant choice and information overload suck the time out of people’s lives, creating anxiety and undermining happiness. At best indecision and procrastination rule, at worst misery and paralysis dominate.
There is a third problem, but more on that later…