In his book ‘The Inevitable: Understanding the 12 Technological Forces That Will Shape Our Future‘, Kevin Kelly reminds us how historically the prices of commodities and stuff have been decreasing, while the price of experiences increase dramatically.
“A major accelerant in this explosion of superabundance — the superabundance that demands constant increases in filtering — is the compounding cheapness of stuff . In general , on average , over time technology tends toward the free . That tends to make things abundant . At first it may be hard to believe that technology wants to be free. According to a 2002 paper published by the International Monetary Fund , “ There has been a downward trend in real commodity prices of about 1 percent per year over the last 140 years . ” For a century and a half prices have been headed toward zero . This is not just about computer chips and high – tech gear.”
On the other hand, “The value of experience is rising . Luxury entertainment is increasing 6.5 percent annually . Spending at restaurants and bars increased 9 percent in 2015 alone . The price of the average concert ticket has increased by nearly 400 percent from 1981 to 2012 . Ditto for the price of health care in the United States . It rose 400 percent from 1982 to 2014 . The average U.S . rate for babysitting is $ 15 per hour , twice the minimum wage . In big U.S . cities it is not unusual for parents to spend $ 100 for child care during an evening out” Kevin Kelly could also have quoted for example the cost of education.
And this historical trend can only continue. The value lies in the actual experience. This is why user experience is an essential success factor for most innovations.
