The experience economy has arrived with consumers from Generation Z leading the way. Gen Z’s combined Income by 2030 is expected to surpass USD 33 trillion, representing 27% of global
The experience economy has arrived with consumers from Generation Z leading the way. Gen Z’s combined Income by 2030 is expected to surpass USD 33 trillion, representing 27% of global income. Their identity is driven by a sense of purpose larger than that of an individual, one that believes in the power of community, is highly pragmatic in their approach with a need to be unique, ethical in their transactions, and focused on the common good. They are looking at new ways to connect and communicate and readily identify themselves with brands that share their views.
However, brands are struggling to connect with the new generation of consumers as they have yet to understand how to communicate with them in a hyper focused, hyper localised and hyper personalised manner. There is immense potential to monetise and create new revenue streams if brands can crack the code on how to tell their story integrated with technology and create experiences that leave a lasting impression.
- Do brands understand the tastes, preferences and needs of the next generation of consumers?
- Are they ready to look beyond products and services and start representing the experiences they create?
- Are CMOs still following the traditional marketing concepts, and will they hold relevance in the age of experience economy?
HE Dr. Rolando Zubiran Robert, a pioneer in economic policy and innovation, boasts a distinguished career spanning government, entrepreneurship, and academia. Notable roles include Minister of Economic Development in Nuevo Leon, Mexico, and Director General of the National Institute for Entrepreneurship. A tech visionary, experience economy expert and founder of MESMR, driving immersive experiences for businesses. Dr. Zubiran’s media and entertainment impact is seen as Board Member of Beacon Media, Global Film and Entertainment Company Co-Founded by Dr. Deepak Chopra. Holding degrees from prestigious institutions such as Oxford, he’s a MENSA member and a Fortune 500 consultant.