Last year, we asked Dojo customers and consumers their thoughts on the role experience plays in their lives, and what’s quickly becoming the Experience Economy. Through Dojo customer surveys, transaction data and consumer focus groups, we compiled insights from a broad range of business owners and consumers across demographics to get the big picture. As consumers demand more from business owners, take a look at the new drivers powering a dramatic shift on the high street.
More focus on customer service. More personalisation. More meaningful interactions.
So what is the Experience Economy? Well, it says it all above, really. It’s a shift in focus from simply delivering commoditised goods and services to offering truly engaging experiences on the high street.
“1 in 3 of us seek out memorable experiences most of the time.
And we’re prepared to pay 28% extra when we find it.”
So you can see that the opportunity is ready and waiting. We discovered that 89% of businesses say they go above and beyond for their customers. But only 48% of customers agree. Now that’s a big disconnect and it’s clear that consumers are looking for more from the businesses they patronise, so it’s down to business owners to bridge that gap.
Time well spent
We’ve put together a report exploring how businesses with physical premises – focusing primarily on hospitality and retail – can grab this opportunity to connect with their customers with both hands. Because it’s all well and good talking about this shift, but you need tangible, real-world examples of how you and your business can make the most of it. With more than half of consumers (58%) saying that COVID has made them realise how much they missed the experience of being ‘out’, it’s an opportunity not to be missed.
The report demonstrates how even small, incremental changes can make a big difference. Top-notch customer service with interior decor to match are high on the list. And so is the role technology has to play with things like loyalty schemes that keep your customers coming back for more.
The Experience Economy is taking the fight to online convenience. And it’s yours for the taking.