Virtual Experience Economy
About this topic
As people around the world are practicing social distancing, with massive cancellation of events, entertainment, and closure of shops, consumers have turned to online for entertainment and past time as they continue to stay at home. This has heightened both the demand and supply of virtual experiences and contents, such as live streams, online classes, Netflix shows, virtual museum tours, and more.
This track explores the spike in this ‘virtual experience economy’ and how this can make permanent shift on consumers’ preferences and demands even after the pandemic. Not only has this pushed many consumers to go online, but we also expect to see a boom of the Experience Economy overall – where experiences will become the predominant economic offering that people prefer.