NEW YORK, NY – As consumers increasingly prioritize experiences over material goods—spending more on dining out, live events, travel, and even virtual reality—the global experience economy is projected to soar to $8.2 trillion by 2028. But in a crowded marketplace, how can businesses make their offerings stand out and feel truly “special”? While some, like Jeff Bezos’s Blue Origin, turn to headline-grabbing experiences like $500,000 space flights, new research from Columbia Business School suggests there’s a more practical path. In the first comprehensive study of its kind, researchers identify the three psychological pillars that define what makes an experience feel special: uniqueness, meaningfulness, and authenticity. The findings not only clarify how consumers evaluate experiences, they also provide actionable strategies businesses can use to elevate everyday moments into memorable ones.
For the research, What Makes Consumption Experiences Feel “Special”? A Multimethod Integrative Analysis, Professor Michel Tuan Pham, the Kravis Professor of Business and Columbia Business School Ph.D. graduate Jennifer J. Sun, Assistant Professor at Yonsei University, conducted seven studies including an analysis of consumer narratives, in-depth interviews, a field survey, a scale development study, a natural language processing (NLP) analysis of more than 3 million Yelp reviews, a preregistered multi-factor causal experiment, a blind comparison of hundreds of matched visual Instagram posts by third-party observers, and several small application studies. Across all seven studies, the authors found that three mechanisms reliably predict what people remember and cherish most: uniqueness, meaningfulness, and authenticity. Initial interviews revealed that people consistently described their most memorable experiences in terms of uniqueness, meaningfulness, and authenticity. These insights were validated through surveys—including among Broadway show attendees—and experimental studies showing that each of the three dimensions independently and reliably predicted how special an experience felt. The NLP analysis confirmed that consumer reviews on Yelp that contained linguistic expressions of specialness frequently emphasized these same qualities.
To help translate their findings, the authors developed a comprehensive set of practical strategies that businesses can use to design more special experiences. Tactics include reframing an experience to highlight its rarity, offering limited-access features like behind-the-scenes tours, or incorporating small, personalized touches that enhance authenticity. The key takeaway: businesses don’t need extravagant or expensive offerings to stand out. Even subtle design choices can meaningfully elevate how consumers perceive and remember an experience.
