The Evolution of the Experience Economy in 25 Years: Conceptual Shifts, Emerging Themes, and Future Directions (1998–2023)

ABSTRACT The present study offers insights into the evolution of the Experience Economy (EE) theory over the past 25 years (1998–2023), identifying the conceptual and intellectual structure of academic outputs, as well as emerging and potential themes. Using a sample of articles from Scopus and Web of Science (WoS), 548 records were analyzed through a co‐word analysis with SciMAT, establishing four periods: “1998–2008,” “2009–2013,” “2014–2018,” and “2019–2023.” Focusing on the most recent period ( n = 246), a bibliographic coupling analysis was performed using Bibliometrix. A content analysis was then conducted to gain deeper insights into scenarios where EE is currently being applied. The findings reveal that the original model has expanded by exploring new contexts, consumption modes, and incorporating diverse theoretical frameworks, while also underscoring how the original components of the EE model remain a robust foundation for analyzing emerging phenomena, particularly in the context of digital transformation and personalized customer experiences. This research provides insights into the future trajectory of the EE, emphasizing transformative and life‐changing experiences as key drivers of business innovation.