{"id":23841,"date":"2021-02-18T10:58:45","date_gmt":"2021-02-18T10:58:45","guid":{"rendered":"https:\/\/localhost:10003\/?post_type=scaleup&#038;p=23841"},"modified":"2024-08-13T16:42:33","modified_gmt":"2024-08-13T15:42:33","slug":"transformation-economy","status":"publish","type":"post","link":"https:\/\/www.ecommercefulfilment.com\/resources\/scale-up\/transformation-economy\/","title":{"rendered":"Tapping into the Transformation Economy"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Craving more from brands<\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-medium\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/www.ecommercefulfilment.com\/wp-content\/uploads\/2021\/02\/02_TransformationEconomy_Diagram_1080x1080-300x300.png\" alt=\"\" class=\"wp-image-23844\" srcset=\"https:\/\/www.ecommercefulfilment.com\/wp-content\/uploads\/2021\/02\/02_TransformationEconomy_Diagram_1080x1080-300x300.png 300w, https:\/\/www.ecommercefulfilment.com\/wp-content\/uploads\/2021\/02\/02_TransformationEconomy_Diagram_1080x1080-1024x1024.png 1024w, https:\/\/www.ecommercefulfilment.com\/wp-content\/uploads\/2021\/02\/02_TransformationEconomy_Diagram_1080x1080-150x150.png 150w, https:\/\/www.ecommercefulfilment.com\/wp-content\/uploads\/2021\/02\/02_TransformationEconomy_Diagram_1080x1080-768x768.png 768w, https:\/\/www.ecommercefulfilment.com\/wp-content\/uploads\/2021\/02\/02_TransformationEconomy_Diagram_1080x1080-250x250.png 250w, https:\/\/www.ecommercefulfilment.com\/wp-content\/uploads\/2021\/02\/02_TransformationEconomy_Diagram_1080x1080-600x600.png 600w, https:\/\/www.ecommercefulfilment.com\/wp-content\/uploads\/2021\/02\/02_TransformationEconomy_Diagram_1080x1080-100x100.png 100w, https:\/\/www.ecommercefulfilment.com\/wp-content\/uploads\/2021\/02\/02_TransformationEconomy_Diagram_1080x1080.png 1080w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">Authors B. Joseph Pine II and James H. Gilmore first wrote about the \u2018Experience Economy\u2019 in 1998 \u2013 the concept of consumers seeking enjoyable brand experiences over products.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The consumer becomes the brand, their own brand, and the products they consume are vehicles for supporting that personal brand.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">They later developed the notion of the&nbsp;<strong>\u2018Transformation Economy\u2019<\/strong>&nbsp;\u2013 an economy where experiences are elevated from mere enjoyment to actual personal transformation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To tap into this notion of transformation, brands need to deliver an emotional and memorable experience \u2013 one that enhances the lives of their customers (especially as we navigate our way through an ever unsettling pandemic), and supports them on their journey to becoming a more efficient and effective individual.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">What\u2019s more, health brands, in particular, should focus on\u00a0<a href=\"\/transparent-brands\/\">transparency<\/a>\u00a0and authenticity, to reassure.<\/p>\n\n\n\n<figure class=\"wp-block-pullquote\"><blockquote><p>The Transformation Economy isn\u2019t pitted against the Experience Economy, it&#8217;s the natural evolution of it, born out of the increasing desire of the consumer to satisfy the highest tier of Maslow\u2019s Hierarchy of Needs: self-actualisation.<\/p><\/blockquote><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Authors B. Joseph Pine II and James H. Gilmore first wrote about the \u2018Experience Economy\u2019 in 1998 \u2013 the concept of consumers seeking enjoyable brand experiences over products.<\/p>\n","protected":false},"author":9,"featured_media":23859,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"yes","_lmt_disable":"","footnotes":""},"categories":[376],"tags":[],"class_list":["post-23841","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-scale-up"],"acf":[],"modified_by":"James Dillon","featured_image_src":"https:\/\/www.ecommercefulfilment.com\/wp-content\/uploads\/2021\/02\/02_Q1_HC_WomanRunningfromeBook.png","featured_image_src_square":"https:\/\/www.ecommercefulfilment.com\/wp-content\/uploads\/2021\/02\/02_Q1_HC_WomanRunningfromeBook.png","author_info":{"display_name":"J&amp;J Global Fulfilment","author_link":"https:\/\/www.ecommercefulfilment.com\/author\/james-and-james\/"},"_links":{"self":[{"href":"https:\/\/www.ecommercefulfilment.com\/wp-json\/wp\/v2\/posts\/23841","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ecommercefulfilment.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ecommercefulfilment.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ecommercefulfilment.com\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ecommercefulfilment.com\/wp-json\/wp\/v2\/comments?post=23841"}],"version-history":[{"count":0,"href":"https:\/\/www.ecommercefulfilment.com\/wp-json\/wp\/v2\/posts\/23841\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ecommercefulfilment.com\/wp-json\/wp\/v2\/media\/23859"}],"wp:attachment":[{"href":"https:\/\/www.ecommercefulfilment.com\/wp-json\/wp\/v2\/media?parent=23841"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ecommercefulfilment.com\/wp-json\/wp\/v2\/categories?post=23841"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ecommercefulfilment.com\/wp-json\/wp\/v2\/tags?post=23841"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}