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Inside the trillion-dollar selfie industrial complex

Mike Elgan | June 5, 2017
It's time to take selfies seriously. That front-facing camera is a doorway to the future of big business.

The experience economy is driving the evolution of not only services (such as restaurants and Sahara Desert camps) but also products. Look at the importance of front-facing cameras, as well as the fast growth of brand-new product categories, like camera gimbal and selfie drones.

The experience economy is all about amassing the gear and creating a staging ground for selfies. We're only at the beginning of this shift, with selfies leading the charge.

 

The selfie-industrial complex

And finally, the most obvious business impact of selfies: marketing. Instead of advertising, companies are increasingly staging instagrammable experiences and letting customers spread the good word.

When you add up the selfie-driven identity economy, the selfie-driven experience economy and selfie-driven marketing, you get something like a selfie industrial complex -- a new world of business opportunity that is emerging out of the selfie impulse that has arisen in the past 10 years.

Whether this opportunity will be worth a trillion dollars or a hundred trillion dollars, nobody knows. What I do know is that understanding the selfie behavior and its implications is now a mission critical aspect of business.

It's time to take selfies seriously.

 

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