Jeff Yang, SVP of The Futures Company and columnist for the Wall Street Journal Online, on why "experience" has moved to the center of the consumer universe. Follow him on Twitter at @originalspin. Link to video of the live presentation: http://www.youtube.com/watch?v=ajEJBbK3Ah4

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How “experience” !
became the new black

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The Futures Company is the world’s
leading foresight and innovation
consultancy.
We combine best-of-breed quantitative
and qualitative datastreams, a 35-country
global intelligence network and a unique
set of proprietary frameworks and
methodologies to unlock new sources "
of growth for our clients.

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Jeff Yang is The Futures Company's
head of multicultural insights, overseeing
Mticultural MONITOR — TFC’s category-
leading insights service focused on
America's dynamic ethnic consumer
markets — and leading the delivery of
custom consulting solutions that track
and translate consumer attitudes and
behaviors across the African American, Asian American and Hispanic
communities.
As a senior vice president in TFC’s Trends & Futures group, he provides
strategic consulting in technology and media, exploring the current
landscapes and emerging shifts in devices, services and content creation
and distribution. He writes Tao Jones, a regular column for The Wall Street
Journal Online (blogs.wsj.com/speakeasy/tag/tao-jones/), and can be
found on Twitter at @originalspin.

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The slogan of the ’80s
Brands. Possessions. Things.

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The slogan of the ’10s
Memories. Sensations. Experiences.

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72% of Americans
would rather spend money !
on “experiences” than “things”

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SOCIAL
TECHNOLOGICAL
ECONOMIC
ENVIRONMENTAL
POLITICAL
DESIRE FOR
EXPERIENCE
a perfect STEEP storm

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Social
The Rise of the Millennials

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95 million strong
Largest generation in history
$900 billion in buying power
62% say it is important to find excitement
and sensation in life (vs. 49% of Gen Xers)
43% say it is important to satisfy hunger for
new experiences (vs. 34% of Gen Xers)

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Social
The Multiculturalization of America

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Four in 10 Americans
are nonwhite (by 2042, 51%)
$1.3 trillion in buying power
Novelty seekers:
46% say it is important to stretch yourself !
to try new things (vs. 33% of whites)
Early adopters: !
36% say they tend to buy products with the
latest innovations as soon as they come out
(vs. 20% of whites)

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Technological
The Mainstreaming of Immersive Interfaces

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62% of American kids
aged 5-8 have used an iPhone
4 in 10 American kids
under age 4 and over half !
of kids aged 5-8 have used !
an iPad

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Economic
The Push for Disownership

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52% of Americans
have chosen to rent, borrow, or
lease items instead of buy them in
the past two years.
49% plan to “disown”
traditionally-owned items in the
next two years.

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Environment
The Drive for Sustainability

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Two-thirds of global consumers
say they prefer to buy companies
that practice social responsbility.
Nearly half (46%) say they are
willing to pay more for products
and services from these
companies.

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Political
The Search for Inspiration

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In 2008, 54% of Obama !
voters were "very enthusiastic."
Only 17% of McCain voters felt
that way.
In 2012, 3 of 4 Obama
supporters said their vote was for
him; 23% said they voted against
Romney.

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! Do sweat the details
! Tell stories. Make memories.
! Help them believe in magic
! Surprise and overdeliver
! Remember: !
Consumers remember

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Thank you.
Jeff Yang, SVP, The Futures Company
jeff.yang@thefuturescompany.com
Twitter: @Originalspin