Experience Economy Industry Statistics

The Experience Economy industry is growing rapidly, with statistics showing increased consumer demand for unique and memorable experiences over material possessions.

Statistic 1

"The global experience economy market size is forecasted to generate $8.2 trillion by 2028."

Sources Icon

Statistic 2

"The experience economy market is expected to grow at a compound annual growth rate (CAGR) of 4.4% from 2021 to 2028."

Sources Icon

Statistic 3

"Nearly 70% of consumers are willing to pay more money for an experience compared to a physical product or service."

Sources Icon

Statistic 4

"Corporate businesses spend more than $500 billion annually on experiential marketing."

Sources Icon

Statistic 5

"By 2027, the experience economy is predicted to represent around 10% of global GDP."

Sources Icon

Statistic 6

"More than 60% of adults have attended an experiential event in the past year."

Sources Icon

Statistic 7

"93% of people believe live events capture their attention more effectively than digital advertising."

Sources Icon

Statistic 8

"79% of businesses use experience marketing to improve their relationship with their target audience."

Sources Icon

Statistic 9

"64% of millennials would rather spend money on experiences and activities than on tangible items."

Sources Icon

Statistic 10

"74% of Americans today prioritize experiences over products or possessions."

Sources Icon

Statistic 11

"Almost all millennials (98%) value experiences so much that they think it helps shape their identity, according to Harris Group."

Sources Icon

Statistic 12

"55% of brands see a higher ROI when they invest in experiences rather than traditional channels."

Sources Icon

Statistic 13

"More than 80% of customers prioritize the experience a company provides over its products and services."

Sources Icon

Statistic 14

"More than 70% of C-suite leaders predict a shift toward experiences, with 53% saying this shift will happen quicker due to COVID-19."

Sources Icon

Statistic 15

"Fifty-nine percent of consumers who have experienced a brand at an event think that it’s more engaging than TV advertising."

Sources Icon

Statistic 16

"Augmented Reality (AR) is expected to grow into a $120 billion industry by the end of 2022, giving birth to newer immersive experiences."

Sources Icon

... Before You Leave, Catch This! 🔥

Your next business insight is just a subscription away. Our newsletter The Week in Data delivers the freshest statistics and trends directly to you. Stay informed, stay ahead—subscribe now.

Sign up for our newsletter and become the navigator of tomorrow's trends. Equip your strategy with unparalleled insights!