The value of intangible experiences is being increased by the power of online social networking. Facebook allows you to now communicate and thus amplify your social experiences through the uploading of photos of the experience and status updates about those experiences.
Look at the impact it is having on the experience of attending a Music Festival. It is now heightened by talking about it with friends before hand and alerting your network through updates, it is then valued again when you post photos up of the event afterwards.
Personally, I know that I am a sucker to the experience economy. I am not to interested in possessions (I have lived in Sydney for 15 months and my only piece of furniture is a bed side table which is a milk crate). I do not know if this is a time in my life and my priorities will shift to surrounding myself with nice items in the future or if it is a symptom of my generation where we no longer want expensive items but crave new experiences?
What I do know, is that there is a huge opportunity for experience based brands to increase the value of their offering through helping their customers communicate that experience to their friends. At the end of the day it is how we are viewed and valued by our friends and our desired friends that matters to us most.