The “Experience Economy” is more than just an industry buzzword. Millennials and Gen Z demonstrate a strong preference for spending dollars on experiences vs. material goods. Not just for themselves, but for friends and family. These experiences are also a way for these generations to be social outside the digital world.

Much of the experience economy is being driven by the increase in social media in our lives. The pressures of platforms such as Facebook, Instagram, and Snapchat have consumers seeking experiences they can share with their friends, family, and followers. Besides the desire to share, investing in experiences has been shown to increase happiness over the purchase of material goods. Psychologists speak to the fact that we won’t adapt to experiences—the way a new iPhone will eventually lose its luster as we adapt to it—and we’re less likely to compare our experiences to others the way we do with material goods. Shared experiences can create connections with people we may not have had otherwise.

We’ve gathered up some of the prevalent trends (or #goals, one might say) that 2017 has presented. To learn more, download DI’s full 2018 Entertainment Trends Forecast below.

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