Restaurants | Hotels |
Resorts | Concerts |
Festivals | Video games |
Virtual reality | Immersive experiences |
Travel | Tours |
Spas | Personal services |
Movies | Streaming media |
Social media | Music |
Theme parks | Amusement parks |
Haircuts | Salons |
Beauty services | Theatrical performances |
Nightclubs | Cafes |
Sporting events | Comedy shows |
Museums | Art exhibitions |
Recreation facilities | Escape rooms |
Circuses | Media |
Karaoke | Martial arts |
Dance classes | Ski resorts |
Campgrounds | Agritourism |
Catering | Zoos & aquariums |
Sightseeing attractions | Historical sites |
Gyms | Personal training |
Event planning |
Haircut
It is difficult to tell how a haircut will work out until it's done. A customer who has a positive experience is likely to return.Medicine
A patient may have little idea about the talent, equipment, philosophical and process differences from one hospital to the next. In a country where medical treatment isn't free for residents, the price may also be a mystery.Restaurants
Historically, restaurants were often used by economists as prime examples of an experience good. However, the number of restaurant reviews and ratings now available in digital formats has removed much of the uncertainty.Travel
Travel experiences such as an day tour are often difficult to evaluate upfront.Legal Services
The total cost of legal services and performance of lawyers.Advice
Profession advice such as investing recommendations are often best evaluated based on actual results.Information Products
Information products such as a self-improvement book.Notes
Experience goods relate to economics and the information consumers use to make decisions. Experience goods are similar to credence goods. The difference is that credence goods are difficult to evaluate even after the service has been fully delivered. For example, vitamins that are supposed to make you generally more healthy.| Overview: Experience Goods | ||
Type | ||
Definition | A product or service that is difficult to evaluate in advance of purchase. | |
Related Concepts | ||
