…and other things that cater to intangibles.
In the NY Times, former Reason editor Virginia Postrel writes,
For successful restaurants, aesthetics is no longer an afterthought. Customers are paying for memories, not just fuel.
What's true for restaurants is true across the economy. New economic value increasingly comes from experiences.
Americans have not stopped buying stuff, of course….But the marginal value of tangibles versus intangibles has shifted….
Products as well as services increasingly distinguish themselves through aesthetics, adding emotional value to practical use. This trend confounds those who equate "quality" with function.
Whole thing here.
Via Arts & Letters Daily.