The Future of Consumption: From Material Goods to Experiences and Moments

The Future of Consumption: From Material Goods to Experiences and Moments

In today's digital age, where smartphones and tablets have become ubiquitous, personal experiences are constantly shared on social media platforms, leading to a sense of familiarity in every experience. This phenomenon has given rise to a shift in consumer behavior from material consumption to experiential consumption. Material consumption refers to the traditional form of consumption centered around acquiring physical goods. On the other hand, experiential consumption, or "Koto Shohi" in Japanese, encompasses activities such as travel, fine dining, hobbies, and relaxation experiences like yoga or spa treatments.

However, as the desire for replicable experiences diminishes due to the saturation of familiar experiences, consumers have started to find value in "Toki," or moments that can only be experienced in a specific time and place. Examples of such moments include attending music festivals, pilgrimage to idol shrines, participating in fan meetings, and dressing up for Halloween gatherings. The advancement and widespread use of tools that facilitate the sharing of these experiences have allowed individuals to virtually experience the experiences of others. Consequently, those who have already experienced something vicariously may lose their motivation to actively seek out those experiences themselves. This phenomenon has led to what is known as "social fatigue" or "SNS fatigue," and has even dampened the enthusiasm for experiential consumption.

At the same time, the concept of search engines has evolved from being a tool for finding information on the web to a tool for self-discovery. Instead of searching for information, people are now searching for themselves. This shift in search behavior has prompted Google to develop the Knowledge Graph, a system that goes beyond the realm of words. The ultimate goal of the Knowledge Graph is to enable computers to understand the world in the same way humans do.

The role of the Knowledge Graph is to connect seemingly unrelated entities and highlight their connections, which may have otherwise been overlooked in traditional search methods. By understanding the context and relevance of words, the Knowledge Graph aims to bring related words closer together and push unrelated words further apart. This advancement in search technology allows users to search for something they are not entirely familiar with, rather than just searching for something they already know.

Today, the challenge lies not in collecting knowledge, but in maintaining and managing that knowledge. When a user searches for "Michael Bloomberg," Google no longer simply searches for web pages containing that string of characters. Instead, it searches for the entity named "Michael Bloomberg." Google now prefers to refer to these entities as "things" rather than strings. The future of Google search will be built upon three pillars: the vast knowledge accumulated from user behavior and intentions, the transformation of strings into "things" through the Knowledge Graph, and cutting-edge artificial intelligence research.

Investor and entrepreneur Esther Dyson once revealed that Bill Gates told her, "The future of search lies in verbs." This statement has stuck with her, as it highlights the fact that people use search engines to take action rather than simply to acquire knowledge. Understanding the user's intention through verbs allows search engines to provide more precise and relevant results.

In the future, the expression of search may vary depending on individual preferences. However, one thing is certain: it will be something that everyone wants to keep close by. It will not only assist in finding information but also anticipate our needs without conscious effort. It may even gently offer suggestions or solutions before we realize we need them.

In conclusion, the future of consumption lies in the transformation from material goods to experiences and moments. As consumers become saturated with familiar experiences, the value shifts towards unique and unrepeatable moments. Similarly, the future of search is moving beyond words and towards understanding context and relevance. The Knowledge Graph plays a crucial role in connecting seemingly unrelated entities and enhancing search algorithms. Three actionable advice to thrive in this evolving landscape are:

1. Embrace the power of unique experiences: In a world where familiarity is abundant, seek out moments that are exclusive and cannot be replicated.
2. Harness the potential of the Knowledge Graph: As a user, explore the connections and relationships between entities to enhance your understanding and discover new perspectives.
3. Stay informed and adapt: Keep up with advancements in search technology and explore how it can benefit your personal and professional life.

By understanding the changing dynamics of consumption and search, individuals can navigate the digital landscape more effectively and make the most of the opportunities presented to them. The future is fast approaching, and it is up to us to embrace it and shape it to our advantage.