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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.
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