Summary of B. Joseph Pine II & James H. Gilmore's The Experience Economy, With a New Preface by the Authors

Please note: This is a companion version & not the original book.

#1 The actions of individual entrepreneurs prove the point that goods and services are no longer enough to foster economic growth and create new jobs. To realize revenue growth and increased employment, the staging of experiences must be pursued as a distinct form of economic output.

#2 The Geek Squad, a company that provides computer support, exemplifies the experience economy. The thematic costuming integral to the Geek Squad being the Geek Squad demonstrates the tangible value that can be created by treating services as the stage and goods as the props for staging engaging experiences.

#3 The economic doldrums experienced by much of the developed world after the 2008 financial crisis were caused by a failure to experientially innovate like each of these companies. The Industrial Economy has had its day.

#4 Four value-creating opportunities stand out regarding goods. First, more offerings should be mass customized: what is needed is not more production of physical goods, but more innovative methods for making those goods. Second, more companies should direct their employees to act.

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