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jerryking : obsessions   5

How business is capitalising on the millennial Instagram obsession
July 13, 2018 | Financial Times | Leo Lewis in Tokyo and Emma Jacobs in London 12 HOURS AGO.

Japan's 21st century’s burgeoning experience economy, which is being driven by millennial consumers and transforming the landscape for businesses everywhere. Japan is not only an innovator in this economy but is also seen as a bellwether for​​ the likely tastes of ​China and south-east Asia’s swelling middle-class consumers......it is not just the quality of the food that attracts crowds to these cafés, but also the quality of the encounter. “That is why the tables are made to wobble,” she explains. “It’s designed so that when you have your pancake in front of you, you can see how fuwa-fuwa it is by how much it jiggles on the plate when the table moves. It is extremely, extremely satisfying to watch,” she adds. “It is what makes it an experience.”.....In Mori’s opinion — a view evidently shared by the customers currently queueing in the stairwell — it is not just the quality of the food that attracts crowds to these cafés, but also the quality of the encounter. “That is why the tables are made to wobble,” she explains. “It’s designed so that when you have your pancake in front of you, you can see how fuwa-fuwa it is by how much it jiggles on the plate when the table moves. It is extremely, extremely satisfying to watch,” she adds. “It is what makes it an experience.”.......In their influential 1998 article “Welcome to the Experience Economy”, American consultants Joseph Pine and James Gilmore argued that a marketable experience occurs “when a company intentionally uses services as the stage, and goods as props, to engage individual customers in a way that creates a memorable event . . . ” These experiences were, they went on, “inherently personal, existing only in the mind of an individual who has been engaged on an emotional, physical, intellectual or even spiritual level”.

This was seen as the logical next step from the service economy, itself an evolution from the industrial economy and, prior to that, the agrarian economy....In Japan, notoriously long working hours have made time-poverty one of the defining features of the country’s leisure sector. The market has responded, over many decades, by refining and packaging experience in the most efficient, deliverable way......The millennial generation — and the growth of social media — has taken this economy in some unexpected directions. Instagram is to thank for the birth of “Oshapiku” — a compound of “oshare” (fancy) and “picnic”, where the emphasis is on meeting up, dressing up and engaging in the most photogenic picnic imaginable......“Experiences are king,” the consultancy McKinsey stated last year in a report arguing that, “in recent years, faced with the choice of buying a trendy designer jacket or a shiny new appliance or of attending a show, consumers increasingly opt for the show and, more broadly, for experiences with their friends and families.”.......Japan’s experience economy has evolved along two distinct avenues. On one side an already fully fledged leisure, dining and hospitality sector has sought ever more inventive ways of packaging experience — from hotels staffed by robots and limited-edition Shinkansen bullet trains fitted out with Hello Kitty decor to many of the country’s aquariums offering the opportunity to camp overnight surrounded by the relaxing pulsations of bioluminescent jellyfish.

The other side, says Mori, has to an extent developed as a branch of Japan’s “otaku” culture. This originally referred to the obsessive focus on particular areas of popular culture such as animation, video games or comics but is now more generally applied to a tendency to single-minded connoisseurship......“There are actually three sides to the experience economy in cosplay,” says Eri Nakashima, the manager of the Polka Polka second-hand cosplay costume store in central Tokyo. “There is the basic passion for becoming a different character from the one you are in everyday life; there is the participation in a community that shares that; and there is the creativity of making the costume perfect.”

This notion of community has become a pattern of growth for the experience economy. .......Shopping remains a huge draw for these tourists: the country’s retailers continue to thrive on the high average spending (£1,000) of middle-class visitors from China, Taiwan, Vietnam and elsewhere. But, by the end of 2017, when the government’s target was obliterated and 28 million tourists arrived during one year, it was clear that Japan’s long history of perfecting short, sharp experiential offerings — from onsen springs to pancakes — had won a new generation of admirers from overseas....Japan’s tendency towards connoisseurship — part of the reason that queueing for an experience is often regarded as a necessary ingredient to enjoyment — continues to be a powerful part of its appeal. The country’s manufacturers have long made a fetish of monozukuri — the quality of “thing-making” artisanship — to actively encourage people to own more stuff. But today the instinct to collect and accumulate things has, she says, been replaced by a desire to collect and accumulate experiences — and, in time-honoured Japanese fashion, to building ever larger libraries of images......Japanese companies Canon, Olympus, Konica, Minolta and Nikon were some of the most successful camera makers on the planet: the passion behind them was not just about the physical machinery but about a recognition that picture-taking dramatically enhances the consumption of experience....Insta-bae became not just a description of something you had seen but an explicit target to seek out. The experience economy, says Harada, is increasingly built around people going in search of experiences that are insta-bae.
bellwethers  cosplay  experiential_marketing  experience_economy  image-driven  Instagram  Japan  Japanese  millennials  obsessions  novelty  self-absorbed  visual_culture  connoisseurship  end_of_ownership  Joseph_Pine  James_Gilmore  artisan_hobbies_&_crafts 
july 2018 by jerryking
Do less this year but do it better
January 7, 2018 | FT| Andrew Hill.

Accumulating multiple commitments poses other risks, too. If you try to do more than one thing, you will not be as efficient as if you concentrated on a single task. A 2001 paper found that people toggling between tasks took longer to solve complex maths problems than those who concentrated on one job.....Doing less “comes with this harsh requirement that . . . you have to obsess [about what you choose to do],”.........people who pursued a strategy of “do less, then obsess” ranked 25 percentage points higher than those who did not embrace the practice. ....Beware the danger of collaborating too little — or too much.....Sometimes achieving more requires more than individual effort. Managers can play a role in helping thier employees exercise self-discipline. Too often, organizations measure success by volume of work done — the law firm’s billable hours, say — or try to match the size of a team to the perceived importance of the project. Sometimes, though, the best approach may be to simplify a process, cut the size of a team, or impose a new strategic focus. How can you and your team achieve more this year? Try taking something away: impose constraints.
Antartica  busyness  commitments  constraints  monotasking  obsessions  overcommitted  overwhelmed  productivity  resolutions  Roald_Amundsen  self-discipline  South_Pole  teams 
january 2018 by jerryking
Our fascination with the well-to-do: The money myth;
Feb 12, 2002 | National Post. . pg. SR.1.FR| Deirdre McMurdy

Inherited wealth continues to be relatively rare. About 80% of the country's millionaires represent first-generation wealth.

It's worth noting that it isn't the option-soaked corporate fat cats or the sharp-shooting lawyers who earn the biggest bucks: small business owners and entrepreneurs are four times more likely to be millionaires than those who work for others. They usually do it, furthermore, by retaining a narrow focus on their objective and working extremely hard in low-glamour Old Economy industries like packaging, auto parts or waste disposal.

For the most part, these are frugal folks who live modestly among us and quietly manage their holdings. And that's not just the case in Canada. American sociologists Thomas Stanley and William Danko -- who wrote the 1999 bestseller, The Millionaire Next Door -- found that most millionaires live in homes worth less than $300,000, drive three-year-old U.S.-made cars and never pay more than US$400 for a suit....Within the genus of millionaires, the Bay Street and Wall Street crowds are a distinct species. Those who have coined it in capital markets are a breed apart -- and certainly not representative of most millionaires...But our admiration for wealth is not without its caveats. Some forms and display of money are more inspiring than others. We may aspire to the toys and the lifestyle, but stock-market fortunes are subtly less respected than those garnered through manufacturing or more traditional methods. Accurately or not, the view tends to prevail that market millionaires have been lucky in a game of chance.
ProQuest  high_net_worth  myths  small_business  entrepreneur  owners  capital_markets  unglamorous  modesty  frugality  hard_work  focus  obsessions  industrial_economy  fascination  inheritors  first-generation  founders 
october 2011 by jerryking
In a Data-Heavy Society, Being Defined by the Numbers - NYTimes.com
By ALINA TUGEND
Published: April 22, 2011
“Numbers make intangibles tangible,” said Jonah Lehrer, a journalist and
author of “How We Decide,” (Houghton Mifflin Harcourt, 2009). “They
give the illusion of control.”[stories, anecdotes, and ratios make numbers memorable. See also Pinboard article, "To Persuade People, Tell Them a Story"]

Too many people shopping for cars, for example, get fixated on how much
horsepower the engine has, even though in most cases it really doesn’t
matter, Mr. Lehrer said.

“We want to quantify everything,” he went on, “to ground a decision in
fact, instead of asking whether that variable matters.” [jck: that is, which variables are incisive, worth paying attention to, act as signal in a sea of noise?]
obsessions  rankings  data_driven  metrics  statistics  analysis  incisiveness  quantitative  Jonah_Lehrer  dangers  intangibles  meaning  sense-making  data  illusions  false_confidence  anecdotal  books  sense_of_control  storytelling  decision_making  overquantification 
april 2011 by jerryking

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