Creating Unique Customer Experience Design with Digital Twins
When we hear the term “good old days” we imagine the “simpler” times with no smart phones or social media, when consumerism was at its lowest due to the limited choice of goods and services on offer.
During that period, when the options were limited and preferences were predictable, the economic system was shaped accordingly. It was a market economy where the functional value of goods were essential and exactly same product or service could easily be offered to a large group of people.
However, powered by accelerating technological growth and increased completion across all industries, consumers started to move away from this “simple” behavior and the Experience Economy was born.
The “Experience Economy” by Pine II and Gilmore clearly states that an experience, not a value, is the dominating factor influencing our purchasing decisions and with that, the experience, which has been accepted to be a part of the overall value by economists for years, announced its independence.
As the concept of the “Experience...