A notable feature of any contemporary cultural, sporting, musical or social event is that half the attendees are constantly engaged in photographing or filming themselves.
Rather than just enjoying the moment, we spend so much time recording banal events not because it is easy or cheap to do, but because of the payoff we get from social media.
Veblen in the 21st century
Indeed, the emergence of Facebook, Instagram, Snapchat, Weibo and other social media means that our experiences today are more “valuable” than they were a few years ago as they can now be “shared” with friends.
Most humans want to belong to a “tribe”.
Today, this consumption dynamic has to be shown on Social Media
But today, this conspicuous consumption dynamic is being upended by social media.
Instead, we use Facebook, Instagram or Snapchat accounts to show that we “belong”.
This is why people take weird pictures of their food at restaurants, or film themselves at a concert.
Image Credit
Shifting from “Things” to “Experiences”
Thanks to social media, conspicuous consumption is shifting from “things” to “experiences”.
On this last point, see how millennials pride themselves on not drinking mass-produced beers, but instead on discovering the latest microbrew nobody has heard of.
Today, consumers no longer want just a burger, but instead seek a burger with a back-story
A new paradigm in many industries. The death of “Value for Money”?
Image Credit
Thus, as we think about market segments where growth faces structural challenges
This need for social acceptance and validation, this gravitation toward a herd or a tribe stems from the impulse to survive. Safety in numbers, right? Fortunately, this is less of an issue, as opportunities for prosperity and abundance are plentiful. And more readily accessible. But those residual traces of the survival mind are still present. With this in mind, it makes total sense as to why our values would shift from "things" to "experiences" (in the context of social signalling). For the most part, the basic necessities are now fairly easy to acquire. And even the Average Joe is fully capable of spoiling himself with material goods. So what do you give the girl who has got everything? The most mind-blowing experiences, of course. And proof! Because... "Pics or it didn't happen."
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Now that is a thoughtful reply, I feel like I just entered a cafe full of artisans and deep thinkers, I should be keeping my mouth shut and giving the appearance that I belong here.
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No way! Don't keep your mouth shut! You belong. There is safety behind the screen, yes, but here you can also be brave.
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Great comment and i can only agree with you. It is the new way to show your "social status".
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Thank you. It's a great post. But I must confess... I am admittedly guilty of doing this myself.
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I had read somewhere that: "Value comes from scarcity, and memorable experiences are the ultimate scarcity"
And I think that should be the next step for any brand. Provide/sell an experience, not just the product.
Great post! ✨
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Hi @vlemon,
Congrats! Your post has been featured as The Daily Qurator Surprise Post in The Daily Qurator # 56. Thanks to @gingerninja for suggesting it. I hope you like it!
Your Quality Curator,
Dr. TLK :D
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Thank you @theleapingkoala, I appreciate it very much.
Thank you for all the Qurator work you are doing.
Take care
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pocketsend:1000@vlemon,
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Successful Send of 1000
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Merci :D
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Those are some very astute insights that really helped orient me in a world that I barely recognize from the one that I grew up in. No doubt cryptos are also about to alter that dynamic significantly over the next few years.
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Thank you @deaconlee, I appreciate you reading it and commenting.
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img credz: pixabay.com
Nice, you got a 4.0% @minnowbooster upgoat, thanks to @vlemon
Want a boost? Minnowbooster's got your back!
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The @OriginalWorks bot has determined this post by @vlemon to be original material and upvoted(2%) it!
To call @OriginalWorks, simply reply to any post with @originalworks or !originalworks in your message!
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This post has received a 5.16 % upvote from @booster thanks to: @vlemon.
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This post is upvoted by Polsza for 52 %.
If you want help us growing upvote this comment.
Thanks !
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Like It. Thnaks for sharing
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Great post!
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Congratulations! This post has been upvoted from the communal account, @minnowsupport, by Mr.Lemon from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews/crimsonclad, and netuoso. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
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This wonderful post has received a bellyrub 2.35 % upvote from @bellyrub.
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As someone in advertising I've thought about this quite a bit. Especially since my primary client in recent years was/is a Department Store selling Items - Interestingly we took the approach to shift their advertising into Selling the Experience of their nice/new stores. That said, along with this modern move from Stuff to Experience - we also have way more entertainment than we've ever had before. Back 100 years ago a department store could have a really cool looking Store Front and hundreds of people would flock to see it because - why not? What else are they going to do for entertainment. Now? You can pick from thousands of Tv shows, movies, music albums in minutes - and that's just what the box in your pocket can offer you.
It's an interesting dilemma for some market sectors thats for sure.
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This post has received a 2.14 % upvote from @buildawhale thanks to: @vlemon. Send at least 1 SBD to @buildawhale with a post link in the memo field for a portion of the next vote.
To support our daily curation initiative, please vote on my owner, @themarkymark, as a Steem Witness
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