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The Most Successful Brands of the Next Decade Will Sell Experiences

There's a global shift away from owning things, and brands will have to adapt

Illustration of hikers on a mountain, with the two figures and several trees silhouetted against the background. — REI believes that in 10 years, it'll generate more revenue selling experiences than things.Getty Images/Malte Mueller

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As we’ve begun leaving the confines of our homes, it’s not shopping we’ve craved but immersive experiences. This is evident in the experience economy: Disneyland is packed, flights are at capacity, hotels have no vacancy, and Coachella sold out in minutes. In this massive global shift from a things economy to an experience economy, the brands that survive will have to adapt.

Calvin McDonald, the CEO of Lululemon, proudly proclaimed two years ago that the brand was no longer an apparel company but an experience company.