Next week's presentation from
Sacred Cow, Purple Cow, Cash Cow
is about the experience economy. The experience economy is described by Joseph Pine in his TED Talk: "What consumers want."
Maker Faire is a great example. It is all about the experience. The attendance at the Maker Faire events has increased significantly every year. The original Maker Faire event was in San Mateo, a few miles from my house, so I've gone on several occasions. You would not believe the crowds and excitement at $25 to $35 per adult (depending on when you bought the ticket).
MAKE Magazine is all about the experience economy filled with do-it-yourself projects appealing to a wide range of ages and demographics. My son has had a subscription for years.
A parallel growth on line is Instructables. There are multiple ways to participate. You can post instructions online, or follow the instructions that other people post. They are even doing a 3-D printing month tapping into new technologies that require no hands on skill, but perfect for the geeks more familiar with a computer than a pair of pliers. If you write instructions for Instructables, you get a free class at the TECH SHOP.
The TechShop is all about the experience economy and it is growing! The TechShop now has multiple locations. The first location was 20 minutes from my house. Now there are three in the San Francisco Bay Area alone. Three more in other U.S. locations. Three more in planning. The TECH Shop wisely offers day passes, month, yearly and business memberships. They also offer free memberships to Veterans. In the Bay Area they are a hub of start up businesses. The are about the experience of hands on making of anything, practical, industrial, artistic to experimental.
The experience economy is a growth market and it is expanding exponentially. It appeals to a demographic that may be interested in the craft show marketplace, but also to D.I.Y.'ers, hobbyists, and geeks. The experience economy is developing and growing phenomenally despite the poor economy and has a strong future.
What does that say for all of us with a craft background?
On Monday Lara Bazant will talk about how she has been able to tap into the "experience economy" with her presentation from the Professional Development Seminar.
Subscribe to ASK Harriete or become a SNAG member. Two ways to assure you will not miss this lecture.
Harriete Estel Berman