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In 1999 Joseph Pine and James Gilmore offered readers the idea of the experience economy as a new way to connect with customers and secure their loyalty. As a result, their book The Experience Economy is now a classic, embraced by listeners and companies worldwide and available in more than a dozen languages. Though the world has changed in many ways since then, the way to a customer’s heart has not.

The curtain is about to rise, say Pine and Gilmore, on the Experience Economy, a new economic era in which every business is a stage, and companies must design memorable events for which they charge admission. With The Experience Economy, Pine and Gilmore explore how successful companies, using goods as props and services as the stage, create experiences that engage customers in an inherently personal way.

A new fundamental economic shift is emerging: an economy based on transformative experiences that guide people to change, achieve their aspirations, and become who they want to be. Welcome to the Transformation Economy. Creating transformative experiences offers businesses the largest opportunity for creating economic value today, particularly as goods and services become increasingly commoditized. Enterprises can create no greater value than to help customers achieve their aspirations—whether improving health, increasing wealth, developing wisdom, or finding purpose.