- The theory at the heart of the Experience Economy
- This holds that as our economy progresses, experiences become more valuable
- Conceived by Jim Gilmore and Joe Pine in 1999
The Progression of Economic Value states that as a society and its economy evolves, so customer needs and wants change. As their needs and wants change, so what a firm has to do in order to be competitive changes.
For more, read Pine and Gilmore’s The Experience Economy.