Many management pundits claim that we are living in the experience economy. One of the most notable work in this direction was published by Pine and Gilmore in 1999 The Experience Economy. The book rightly asserts that organisations undergo an evolution in their business model from trading to developing branded products and ultimately delivering a great experience that makes the brand sticky. Interestingly, there are a few industries that are still not up to speed with this idea. Consider telecom, banking, airlines, or insurance, and you may concur with my thoughts. These industries are far behind in the race of delivering memorable customer experience when compared with internet companies like Amazon, Airbnb, or even PayPal for that matter.
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