What is Experience Consumption

The economy in which consumers live today is considered the experience economy. One of the industries that is growing in this economy is the entertainment industry. Additionally, this industry is not only limited to conventional entertainment contexts today. For instance, many retail contexts have started to operate according to the rules of this industry. Today, the entertainment value that consumers construct within and derive from the market is highly dependent on the experiences they find in retail contexts. Entertaining experiences play the focal role in most retail contexts due to the high level of positive managerial outcomes, such as economic value. Therefore, there is a growing need to understand the phenomenon of commercial experiences that provide entertainment and their role in various retail environments in different cultures. This conceptual chapter aims to understand how successful retailers utilize experience marketing to attract more consumers.